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Mining news: COPPERCommodities: Is it time to buy copper and nickel againOnce they were the hot funds. Now Patrick Collinson asks if they’re leading a new bull run The price of oil went below $40 a barrel, but is now around $70. Copper collapsed from $9,000 a tonne to below $3,000; now it is above $5,000. Nickel, zinc and tin DJ Zambia Lumwana Copper Output Hit By Conveyer Disruptions-PaperDOW JONES NEWSWIRES Output at Zambia’s Lumwana Copper Mines has been disrupted over the past three weeks due to faults with the mine’s 4.5-kilometer conveyer belt, the Times of Zambia reports Friday. Harry Michael, Lumwana managing director, told the The man behind the Teck-CIC dealpurchase a copper and coal miner at low valuations. Teck has a small stake in the Fort Hills oil sands project, which the company may sell, and sources said CIC attached no significance to that project. As the first major investment by CIC in a Canadian China’s hunger for resources bolsters Teckincluding a pair of its copper mines in Chile. Teck is also a partner in the Fort Hills oil sands project in Alberta that has suffered from staggering cost inflation and China could help Teck fund its share of the project. As the world economy has Copper trade bi directionalCopper moved in a very wide range trading in both directions. The main driver of the metal has been China. The stocking of the metals by the country supported the prices in the starting of the month whereas the prices started to drop as this buying Copper miner’s production results below expectationsEquinox Minerals (EQN) announces Q2 output from Lumwana Project in Zambia Teck to erase more debt thanks to C$1,74bn Chinese investmentin one of Canada’s biggest resources companies, producing metallurgical coal, copper, zinc, gold and with interests in oil sands assets. China is consolidating its fragmented steel industry and is expected to be a key buyer of the company’s hard coking Morgan Stanley hikes copper price view on China* Near term price pullback will reverse * Raises 2009 forecast to $2.14 per lb, 2010 to $2.50 * China’s economic recovery will widen and deepen LONDON, July 3 (Reuters) - Morgan Stanley (MS.N) has hiked its 2009 and 2010 copper price forecasts, partly Bucyrus International, Inc. Announces Second Quarter 2009 Earnings Release and Conference Callthe surface and underground mining industries. Bucyrus’ surface mining equipment is used for mining coal, copper, iron ore, oil sands and other minerals. Bucyrus’ underground mining equipment is used primarily for mining coal and also used in mining Rio Tinto rights issue receives strong support with 97 pct take upThe Group’s major products include aluminium, copper, diamonds, energy products, gold, industrial minerals (borates, titanium dioxide, salt and talc), and iron ore. Its activities span the world but are strongly represented in Australia and North Freeport says prices need to rise for new projectsFreeport-McMoRan (FCX.N) will be a long-term investor in Chile and Peru, but would like to see copper prices rise more before investing further in the countries, its chief for the Americas said on Thursday. Tokyo Commodity Exchange May List Copper as It Aims for ProfitsTokyo Commodity Exchange Inc. may add copper, zinc, lead and liquefied petroleum gas to its listed products as Japan’s largest raw material bourse aims to boost volumes and return to profit next fiscal year. Bucyrus International, Inc. Announces Second Quarter 2009 Earnings Release and Conference Callthe surface and underground mining industries. Bucyrus’ surface mining equipment is used for mining coal, copper, iron ore, oil sands and other minerals. Bucyrus’ underground mining equipment is used primarily for mining coal and also used in mining Bucyrus International, Inc. Announces Second Quarter 2009 Earnings Release and Conference…the surface and underground mining industries. Bucyrus’ surface mining equipment is used for mining coal, copper, iron ore, oil sands and other minerals. Bucyrus’ underground mining equipment is used primarily for mining coal and also used in mining Precious metals contract downMumbai, Jul 1 : Gold August 09 contract was down by 0.14 per cent at Rupees 11,436 per 10 gram and Silver July 09 contract moved down by 0.15 per cent to Rupees 22,317 per kg at Multi Commodity Exchange (MCX) here today. Copper August 09 contract rose by METALS-Shanghai copper down 0.4 percent, LME drifts* Copper flat; investors eye jobs data, US holiday * Shanghai prices driven by liquidity flood, not fundamentals SINGAPORE, July 2 (Reuters) - Shanghai copper rose on Thursday and London futures held steady after sharp gains in the previous session ahead Copper: Price surges on upbeat dataCOPPER surged to its loftiest level in more than two weeks, driven by extended losses in the US dollar and upbeat manufacturing surveys in the United States, Europe and China that reinforced economic recovery hopes. Other industrial metals also surged Northern Territory copper-gold pushPanoramic Resources has entered a joint venture agreement to kick-off an exploration program at the Bluebush copper-gold project in the Northern Territory. The agreement, with Territory Uranium, will fund a drilling program to test a series of Where next for the bonus culture?Last year at mining company Xstrata, for example, Mick Davis, the chief executive, was paid a package worth almost £14m - that’s 424 times the average salary paid to Xstrata employees. This inevitably raises questions over whether, in an organisation that employs thousands, any one person can really be worth that kind of pay differential. METALS-Manufacturing, weak dollar push copper to 2-wk high* Manufacturing PMI surveys help boost copper * Weaker dollar reinforces positive sentiment * Tight nearby aluminum supplies (Recasts, updates with New York closing copper prices, adds NEW YORK to dateline and analyst comments) NEW YORK/LONDON, July 1 |
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