Mar
1
Copper rises to 5-week high after Chile earthquak..
March 1, 2010 | Leave a Comment
Copper prices rose more than 3 percent in Europe on Monday after a massive earthquake hit Chile, the world’s largest producer of the red metal, over the weekend, temporarily closing up to a fifth of its mine capacity. The metal hit a five-week high at $7 600 (R58 520) a tonne in Asian trade. The [...]
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
8
Grupo Mexico expects copper production to grow..
February 8, 2010 | Leave a Comment
Mexico City-based mega-miner Grupo Mexico expects 2010 will be “a year of consolidation for copper and for our other metals due to the anticipated growth of the manufacturing sector worldwide, recovery in American, European, and Asian demand, and the continued Chinese consumption.” “These factors are expected to start a reversal of the upward trend in [...]
Feb
8
Avanco Resources unveils positive results for Rio Verde copper project feasibility..
February 8, 2010 | Leave a Comment
Perth-based Avanco Resources (ASX: AVB) has updated the market on its mine scoping study for the Rio Verde High Grade Copper Project in Brazil. Avanco says it is highly encouraged with results to date which illustrate the feasibility of a low cost, minimum risk project with a strong economic performance. The Scoping study on the [...]
Feb
2
Peru’s Southern Copper sees strong prices in 2010..
February 2, 2010 | 3 Comments
* Company sees 2010 copper prices at $3.25/lb * Puts 2010 copper estimate at 500,000 tonnes * Says to produce 18,500 tonnes of molybdenum this year * Still no restart date for strike-hit Cananea LIMA, Feb 2 – Southern Copper Corp, one of the world’s largest copper producers, said on Tuesday it sees average copper [...]
Feb
1
Xstrata 2009 coal output up 11 pct, copper falls..
February 1, 2010 | Leave a Comment
LONDON, Feb 1 – Mining group Xstrata Plc posted an 11 percent rise in annual output of coal, its most profitable product, while 2009 mined copper production fell by 5 percent. Coal is expected to account for 40 percent of core earnings this year while copper is due to make up 36 percent and zinc [...]
Feb
1
Zambia Jan-Nov 2009 copper production up – c.bank..
February 1, 2010 | Leave a Comment
Copper output in Zambia, the number one producer of the metal in Africa, rose to 636,528 tonnes from January to November 2009 versus 536,460 tonnes in the same period the previous year, the central bank said on Tuesday. Zambia’s central bank, the Bank of Zambia (BoZ), said in a fortnightly report copper exports also rose [...]
Jan
10
Kazakh copper giant to get 2.7bn-dollar loan from Chinese
January 10, 2010 | Leave a Comment
KazakhMys Group [metallurgical company] will receive a 2.7bn-dollar loan from China Development Bank through the Samruk-Kazyna national welfare fund. The parties have signed a corresponding agreement on financial cooperation. Of this loan, 2bn dollars will be spent on the Bozshakol copper production project. About 100m dollars will be channelled into the Bozymchak gold and copper [...]
Jan
6
RI copper, gold output to fall in 2011.
January 6, 2010 | Leave a Comment
Indonesia’s copper and gold output is expected to fall by an average of 30 percent next year because of a mining site expansion plan by PT Newmont Nusa Tenggara that will temporarily reduce production capacity. The situation will extend until 2012, said director general for coal, minerals and geothermal Bambang Setiawan on Wednesday. Newmont will [...]
Jan
3
Chilean copper giant trims contract offer to workers..
January 3, 2010 | Leave a Comment
Santiago, Dec 31, 2009 (EFE via COMTEX) — Chilean state-owned mining giant Codelco reduced the size of a proposed bonus Thursday in its latest contract offer to workers in the company’s northern division, who promptly rejected the bid. In their second assembly this week, the miners set 5:00 a.m. Monday as the starting time for [...]