Sep
11
First Quantum lines up USD 1 billion in financing
September 11, 2011 | Leave a Comment
Reuters reported that First Quantum Minerals is close to securing about USD 1 billion in financing to expand its Zambian copper operations. The miner has an 80% stake in the Kansanshi mine in Zambia and also produces copper and gold from the Guelb Moghrein mine in Mauritania. Kansanshi produced about 230,000 tonnes of copper and [...]
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 [...]
Jul
1
Expensive copper helps some SA firms…
July 1, 2010 | Leave a Comment
THE high copper price and its subsequent positive effects on related industries have assisted some South African companies to emerge from hard times. Bell Equipment , which posted a net loss of R372m for the financial year to March , said the increase in the copper price, and the resultant surge in mining, meant a [...]
Feb
18
METALS-Copper at 3-week high as economic prospects shine..
February 18, 2010 | Leave a Comment
* Copper in leadership role, signals economic uptick * Market awaits return of Chinese players * Copper stocks highest since 2003 (Changes headline, recasts with New York closing copper price, adds New York dateline/byline and analyst comments) By Chris Kelly and Maytaal Angel NEW YORK/LONDON, Feb 18 – Copper climbed to its highest level in [...]
Feb
8
COPPER HEDGE: Taseko locks in higher copper prices..
February 8, 2010 | Leave a Comment
VANCOUVER — Taseko Mines has hedged forward 50% of its targeted copper production from the Gibraltar mine near Williams Lake, BC. From June 2010 to December 2010, Taseko will receive between US$2.50 and US$3.95/lb. The company used a producer put and call option covering 23 million lb of copper. Taseko will receive the prevailing market [...]
Feb
4
METALS-Copper tumbles to 3-mth low, dollar erodes sentiment..
February 4, 2010 | Leave a Comment
* Rising dollar triggers metals sell-off * Euro-zone fiscal woes/China tightening fears weigh * Chinese New Year to subdue volumes (Recasts with New York closing copper price, adds New York dateline/byline and analyst comments) By Chris Kelly and Michael Taylor NEW YORK/LONDON, Feb 4 (Reuters) – Copper prices plunged to their lowest levels in more [...]
Feb
3
Monthly Effective Fed Funds Rate (Set Forward 20 Months) vs Copper Spot Price.
February 3, 2010 | Leave a Comment
Monthly Effective Fed Funds Rate (Set Forward 20 Months) vs Copper Spot Price.
Feb
2
China copper demand seen down by 1 mln T this year..
February 2, 2010 | Leave a Comment
China’s copper imports will fall by 1 million tonnes this year, but rising demand from other nations will counter that decline, ensuring strong prices, a Barclays Capital analyst said on Monday. Kevin Norrish of Barclays Capital told an African mining conference in Cape Town there would be no material growth in copper supply this year. [...]
Feb
2
ARM sees Khumani iron-ore output at 16Mt by 2012..
February 2, 2010 | Leave a Comment
CAPE TOWN – Diversified miner African Rainbow Minerals (ARM) is on track to boost production at its Khumani iron-ore mine by 2012, and was also aiming for Zimbabwe’s platinum sector, its CEO said on Tuesday. ARM was also looking at acquisitions in the rest of the continent and had formed a joint venture with Vale [...]