Latest news with #Cobre
Finextra
11-07-2025
- Business
- Finextra
Cobre introduces real-time interbank B2B payments in Colombia
The launch of Cobre Real-Time B2B Payments Colombia is a first for the country. It lets businesses in Colombia do interbank transactions right away. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Cobre's new platform is changing the way payments work in Colombia by providing businesses with real-time B2B settlement through a secure and scalable infrastructure. As a long-time advocate of financial digitalization in Colombia, Cobre will accelerate the adoption of the new interoperable real-time payment system for businesses under the Bre-B framework, transforming the way money moves across the country. This functionality will allow companies to use payment aliases (keys) to receive instant and interoperable transfers without altering their existing accounting flows or payment systems, eliminating operational friction and making it easier to adopt this new financial infrastructure. They will also be able to receive payments from corporate clients around the clock — 24/7, including weekends and holidays, which will significantly improve cash flow and accelerate accounting cycles. 'At Cobre, we believe innovation should go beyond the buzzword. That's why we've worked hard to bring real-time to enterprise payments in Colombia before anyone else. This benefits not only our clients, but also the country's entire financial modernization agenda,' said José Gedeón, CEO and co-founder of Cobre. Cobre plans to grant early access to its customers, a group that includes major retailers, fintechs, and logistics providers. 'This has been the result of months of joint work with various ecosystem partners. This is definitely another step in our mission to provide innovative, efficient financial tools for companies,' Gedeón added. With this pioneering integration, Cobre reaffirms its leadership as the most agile, interoperable, and future-ready B2B payments platform in the region. With the Cobre Real-Time B2B Payments Colombia platform now live, the business is taking a big step forward in the evolution of digital payments for businesses in Latin America.
Business Wire
11-07-2025
- Business
- Business Wire
Cobre Becomes the First Platform to Enable Real-Time Interbank B2B Payments in Colombia
BOGOTÁ, Colombia--(BUSINESS WIRE)--Cobre, the leading platform for real-time business payments in Latin America, unveiled today that starting in September, it will become the first participant in Colombia's financial system to enable instant interbank payments exclusively for businesses. LatAm fintech to unlock real-time B2B payments in Colombia. Share As a long-time advocate of financial digitalization in Colombia, Cobre will accelerate the adoption of the new interoperable real-time payment system for businesses under the Bre-B framework, transforming the way money moves across the country. This functionality will allow companies to use payment aliases (keys) to receive instant and interoperable transfers without altering their existing accounting flows or payment systems, eliminating operational friction and making it easier to adopt this new financial infrastructure. They will also be able to receive payments from corporate clients around the clock — 24/7, including weekends and holidays, which will significantly improve cash flow and accelerate accounting cycles. 'At Cobre, we believe innovation should go beyond the buzzword. That's why we've worked hard to bring real-time to enterprise payments in Colombia before anyone else. This benefits not only our clients, but also the country's entire financial modernization agenda,' said José Gedeón, CEO and co-founder of Cobre. Cobre plans to grant early access to its customers, a group that includes major retailers, fintechs, and logistics providers. 'This has been the result of months of joint work with various ecosystem partners. This is definitely another step in our mission to provide innovative, efficient financial tools for companies, ' Gedeón added. With this pioneering integration, Cobre reaffirms its leadership as the most agile, interoperable, and future-ready B2B payments platform in the region. About Cobre Cobre is the biggest platform developing technology for corporate payments in Latin America. Cobre has three solutions that allow companies to optimize their treasury or build new products for their clients: Cobre Connect, Local Payments (domestic business payments in real time), and Cross Border Payments (global business payments in real time). All are designed to integrate with a company's existing systems in order to create intelligent and interoperable financial ecosystems.
Yahoo
26-03-2025
- Business
- Yahoo
Panama has not authorized visits to the Cobre Panama copper mine
PANAMA CITY (Reuters) - Panama has not authorized visits to First Quantum's shuttered Cobre Panama mine, the country's Ministry of Commerce and Industry said in a statement on Tuesday. "Any entry of third parties to those facilities has been managed unilaterally by the company, without the participation or endorsement of the National Government," the ministry said. The statement was shared on X by Minister Julio Molto and stated that Panama's government is "in the process of contracting a comprehensive audit, which aims to technically and objectively evaluate the current state of operations and their impact on the environment." Panama's statement comes after First Quantum announced on Monday a program of visits to the Cobre Panama copper mining site, which has been shut since 2023 amid an environmental dispute with the country, to tour the site. The Panamanian government believes the public visits may affect the impartiality of any analysis of the Cobre site and the existing supplies of copper concentrate there. Before its shutdown, the mine was one of the world's top sources of copper, accounting for 1% of global output. Sign in to access your portfolio
Yahoo
21-03-2025
- Business
- Yahoo
Switching off plants: Chinese copper smelters grapple with margin collapse
By Amy Lv and Lewis Jackson BEIJING (Reuters) - Major copper smelters across top consumer China have kicked off equipment maintenance in March, traditionally a peak demand period, in a bid to stem losses from a worsening feedstock shortage that is hammering margins, industry insiders said. Shutting down plants in what is traditionally one of the busiest times of the year highlights how much pain the scarcity of copper concentrate is causing refiners, a problem compounded by smelting overcapacity that has sparked fierce competition for the raw material and sent treatment fees below zero. Roughly 980,000 metric tons of smelting capacity, or 8% of China's total last year, is set for maintenance in March, Hongyuan Futures said in a note. Three analysts and a smelter manager told Reuters this was an unusually high amount compared to previous years. Staff at three large smelters confirmed to Reuters they began equipment maintenance in March. Another operator, Tongling Nonferrous Metals Group, which accounted for 13.5% of China's refined copper output in 2023, started month-long maintenance on some smelting equipment in early March, according to two sources. Production cuts can be sensitive in China, where many smelters are important contributors to regional economies, but as in many industries, from steel to oil refining, the sector is plagued by overcapacity as operators chase market share. The overcapacity in China, the world's largest supplier of the refined metal used in wiring, machinery and new energy technologies, is contributing to a global imbalance in the copper smelting industry. By shutting equipment for maintenance, smelters hope to cut consumption of copper concentrate, ease the concentrate shortfall and stop processing fees from sliding even further, analysts said. Eight analysts and smelters who spoke to did so on condition of anonymity given they are not authorised to speak to media. Tongling did not respond to Reuters' request for comment. The industry's difficulties put a spotlight on the March 31 quarterly meeting of the China Smelters Purchase Team (CSPT), where measures including production cuts are set to be discussed, sources with knowledge of the matter said. "There is a significant risk of large-scale output cuts among Chinese smelters this year," said Patricia Barreto, senior analyst at S&P Global Commodity Insights. If Chinese smelters jointly agree a production cut, refined copper output this year will likely fall, which could lead China to import more, analysts said. UNUSUAL TIMING Widespread maintenance is unusual in March, when smelters historically benefit from a surge in demand after the Lunar New Year holiday before undergoing maintenance in April or May. Supply of copper concentrate has been tight since late 2023 due to disruptions at major mines including First Quantum's Cobre mine in Panama as well as smelter capacity expansion. That overcapacity, which continues to grow, is increasing demand for globally scarce concentrate. Analysts at Antaike and Shanghai Metals Market have lowered forecasts for copper concentrate output growth this year due to downward revisions from producers, according to research notes from Citi. Some smelters are operating at a loss, and not just in China. Glencore's Pasar smelter in the Philippines was put on care and maintenance in February. Japan's smelters, while bunkering down for tough times, may fare better as they are more diversified than China's and have long-term supply contracts. Treatment and refining charges (TC/RCs), a key revenue source, have been negative since December 20, meaning smelters must pay miners or traders to turn concentrate into refined metal, instead of the other way around. Fastmarkets copper concentrates TC/RC index plunged to a record low of -$26.5 per ton and -2.65 cents per pound on March 7. "The situation is much tougher this year, as last year smelters could make some money thanks to better prices for the long-term contract, but you are suffering losses in whatever situation right now," said a manager at a Chinese smelter. "The only difference is whether you are losing more money or less money," the manager added, saying losses were as much as 3,000 yuan ($414.47) per ton of refined copper for spot cargoes. Four analysts estimated losses at between 1,000 yuan and 2,000 yuan per ton.
Zawya
14-03-2025
- Business
- Zawya
Australia: BHP earns right to take 75% stake in Cobre's Botswana projects
Mining conglomerate BHP has taken a right to acquire a 75% stake in Australia. The deal follows Cobre's selection in BHP's Xplor programme in January last year in which the smaller rival received $500,000 to accelerate exploration plans in its Kalahari copper projects in the African nation. The agreement sees at least $5m of committed funding to be paid to Cobre within two years of its commencement date, with a planned budget of $7m for exploration expenditure starting next month. "The partnership with BHP will provide us with the funding and support necessary to implement a technology-driven work programme designed to discover the Tier 1 deposits we believe may be hosted in our Kitlanya East and West projects," Cobre chief executive, Adam Woolridge said. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
