China and Copper

By Richard (Rick) Mills, Ahead Of The Herd As a general rule, the most successful man in life is the man who has the best information In this author’s opinion, China, and to a lesser extent India and other developing nations, are responsible for the largest and longest base metals bull market the world has [...]

Commitments of Traders Review: Gold, Silver, Oil, Copper

Anthony Davian submits: By Philip Dunham Gold After falling from around 1,065 in late October, gold prices surged, flirting with 1,100 due to news the Reserve Bank of India purchased 200 tonnes of gold from the IMF. Open interest increased by 35,649. Producers/consumers increased long positions by 5,290, shorts by 9,360. Swap dealers increased longs [...]

Newmont negotiating with Indonesia govt as divestiture deadline looms

Newmont Mining continues to hold talks with the government of Indonesia, ahead of a November 12 deadline for the sale of a total of 24% of the Batu Hijau copper/gold mine, CEO Richard O’Brien said on Thursday. The company understands that the local government will buy the initial 10% (the 3% and 7% stakes which [...]

Codelco 9-month copper production jumps 16%

Net profit for the period declined to less than half the amount recorded for the same period a year earlier Read more….

Copper, gold, and Chinese pig farmers make Brent Cook nervous

Commentary from geologist Brent Cook, editor of Exploration Insights newsletter, who is a little more than disturbed by reports of heavy speculation in metals in China, not by funds, but by the general populace. Is a commodities bubble being signalled? Read more….

Brazil’s Vale widens and deepens investments in Africa

Major Brazilian mining group Vale is to invest $595-million in its Moatize coal project in Mozambique next year. The company is already studying the feasibility of a second phase at Moatize, designated Moatize II. Subject to the approval of its board, Vale will also invest $50-million in the Konkola North copper project in Zambia, which [...]

Copper at 13-month high; data points to recovery

Copper climbed to a new one-year high on Friday as upbeat data in the United States and Europe renewed prospects for economic recovery and metals demand. Zinc touched $2 297,50, its highest point since May 2008, having gained nearly 17 percent this month, more than any other LME traded metal. Zinc premiums are set to [...]

Discovery to spend $150m on Botswana copper mine

Exploration company Discovery Metals plans to spend an initial $150-million developing the Boseto copper project in Botswana, MD Brad Sampson said on Thursday. Sampson said the company would use the funds to build a concentrator, tails dam and related facilities at Boseto, after completing a bankable feasibility study (BFS) next March. Read more….

Freeport studies first output expansion at Tenke Fungurume

Miner Freeport-McMoRan Copper & Gold will start a feasibility study this quarter the potential increase production by around 50% at the company’s new Tenke Fungurume copper/cobalt mine, in the Democratic Republic of Congo. The mine produced its first copper in March this year, and is achieved targeted copper output rates in September, Freeport CEO Richard [...]

Discovery Metals to spend $150m on Botswana copper prject

The funds will be used to build a concentrator, tails dam and related facilities at the group’s Boseto project Read more….

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