Aug
30
Copper futures rise on global cues, spot demand
August 30, 2011 | Leave a Comment
Copper strengthened by 0.87% to Rs 418.10 per kg in futures trade today as speculators indulged in building up fresh positions, taking positive cues from global markets. At the Multi Commodity Exchange, August copper rose by Rs 3.60, or 0.87%, to Rs 418.10 per kg, with a business turnover of 4,953 lots. Click here to [...]
Aug
30
On deteriorating global economic outlook, the better than expected US consumer expenditure data came as a sparkle which coupled with much short covering in the market weighed on the copper much and led the metal to continue trading higher. Meanwhile, Nickel was trading lower due to less demand from the alloy makers in the market. [...]
Aug
30
As price of copper increased, miners’ wages went up, too, by 25 cents a day
August 30, 2011 | Leave a Comment
In this year leading up to Arizona’s centennial, Feb. 14, 2012, we’ll reprint a story or excerpts each day from the Arizona Daily Star or Tucson Citizen archives. Aug. 24, 1912 BISBEE – The Copper Queen and Calumet and Arizona Mining companies have granted to men in their employ working underground an increase of 25 [...]
Aug
30
METALS-Copper rises on consumer spending, strike
August 30, 2011 | Leave a Comment
* U.S. July consumer spending growth at 5-month highs * Strike threat looms at Grasberg copper mine * Coming Up: U.S. consumer confidence 1400 GMT, FOMC minutes 1800 By Susan Thomas LONDON, Aug 30 (Reuters) – Copper rose on Tuesday, helped by data that showed U.S. consumers were willing to spend, especially on cars, suggesting [...]
Aug
22
With current prices, Ivanhoe’s OT mine to produce copper at negative costs
August 22, 2011 | Leave a Comment
TORONTO (miningweekly.com) – TSX- and NYSE-listed Ivanhoe Mines’s giant Oyu Tolgoi mine in Mongolia will produce copper at negative cash costs at current gold and silver prices, the company said on Monday. Further, precious metals will contribute an average of 44% to the mine’s revenue for the first five years if current prices hold. Gold [...]
Aug
22
Copper may shine in the long run but avoid for now
August 22, 2011 | Leave a Comment
Copper, the industrial metal, has been suffering from a threat of a slowdown in the US and Europe. The metal has touched its lowest level today; however, experts feel that copper price is likely to recover and remain on the higher side in the long term. Ashok Mittal, CEO of Emkay Commodities said that copper [...]
Aug
22
Ashburton Minerals to accelerate drilling at Obi Gold Project with second rig and copper credits
August 22, 2011 | Leave a Comment
Ashburton Minerals (ASX: ATN) will boost the current drilling program at the Obi Gold Project in Indonesia within the next two days, as a second diamond drilling rig has arrived on site. Initial delays in the shipment of the rig meant that the program commenced several months later than expected. The second rig, supplied by [...]
Aug
22
Market Morning Briefing
August 22, 2011 | Leave a Comment
EQUITIES The US markets gave up most of their intraday gains to close slightly higher yesterday. Dow (10854.65) came off from its high of 11020.55 to close slightly higher by 0.34% and the Nasday (2345.38, up 0.03%) closed flat after seeing an intraday high of 2397.34. Lack of confidence in the market is keeping the [...]
Aug
14
Gold rally fails to shine on precious-metal funds
August 14, 2011 | Leave a Comment
It’s always frustrating when investors think they have bulwarks in place to protect against wild stock-market onslaughts, only to learn later that their defenses broke down during the heat of battle. That’s what happened lately with precious-metals mutual funds. These investments hold mining-company stocks and thus are supposed to deliver diversification benefits and participate in [...]
Aug
14
Copper plant plans gathering opposition
August 14, 2011 | Leave a Comment
Some neighbors of a proposed copper wire plant in New Haven are worried that air quality will be further diminished. Monday is the deadline to register comments about the air quality permit application for the new SDI La Farga stationary copper rod production plant in New Haven. The Indiana Department of Environmental Management will review [...]