MINING.com News » COPPER

UPDATE 4-Copper, aluminium hit 3-yr lows before recovering

Reuters — Fri, 21 Nov 2008 14:46:00 +0000

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Projects persevering despite difficulties

International Mining — Fri, 21 Nov 2008 14:41:38 +0000

Latest issue of International Mining Project News available (November 21): With the sense of uncertainty that is circulating throughout the industry, project reports and updates are increasing in importance. As a consequence another section on cutbacks has been added. Included in this section is Freeport McMoran Copper and Gold’s Climax molybdenum mine and Xstrata Alloys and Merafe Resources’ Xstrata-Merafe venture; representing two of many featured companies having to adjust their projects to suit the times. (more…)

Chinese copper market cautious despite 32% Chilean premium cut

Platts — Fri, 21 Nov 2008 11:56:00 +0000

Hong Kong (Platts)--21Nov2008 The Chinese copper market is unmoved by Chilean copper major Codelco's move to lower its 2009 premium for Grade A copper cathode, CIF China, to $75/mt, plus cash, down by about 32% compared with the 2008 level at $110/mt,

Teck to sell assets to drive down debt

Mineweb — Fri, 21 Nov 2008 11:16:46 +0000

Teck will sell assets to drive down debt, withdraw from Petaquilla copper project in Panama, and suspend dividend payments.

Southern Copper eyes selling direct to Asia

China Mining — Fri, 21 Nov 2008 09:22:00 +0000

Southern Copper Corp, one of the world's largest copper producers, hopes talks with Asian buyers will lead to new direct sales, the company's chief executive said on Thursday. 'We already sell to Asia, but through traders. We want to do it directly,'

Colfax Corporation (F3Q08) Earnings Conference Call Transcript

Seeking Alpha — Fri, 21 Nov 2008 02:45:00 +0000

anticipate it. I think on a commodity basis we did get hit with some hedged difference particularly on copper and nickel. Well we did some poor hedging and there was a very strong drop in prices in terms of those commodities. So we should see some

Copper Mesa Responds to Notice from the Regional Director of Mines of Pichincha, Ecuador

Canadian News Wire — Thu, 20 Nov 2008 21:30:00 +0000

VANCOUVER, Nov. 20 /CNW/ - Copper Mesa Mining Corporation ("Copper Mesa" or the "Company") (TSX:CUX) announced that it has received a notice from the Regional Director of Mines of Pichincha, Ecuador, that again purports the

Centenario completes partial buyback of 2010 copper hedge book

Platts — Thu, 20 Nov 2008 21:14:00 +0000

Centenario Copper has completed the repurchase of a portion of its outstanding 2010 copper hedge contracts, the Canadian miner said Thursday. The company repurchased 30.2 million lb of outstanding copper hedge contracts, dated from May 2010 through

Chinese, Peru banks to work on El Galeno copper-gold project

Platts — Thu, 20 Nov 2008 21:14:00 +0000

China's development bank and the biggest bank in Peru, privately owned Banco de Credito, have signed an agreement to finance the development of a Chinese-owned deposit in northern Peru. The deposit is estimated to contain 8.26 billion lb of copper and

Constellation Copper announces delay in filing interim financial statements

Canadian News Wire — Thu, 20 Nov 2008 19:57:00 +0000

NEX: CCU.H DENVER, CO, Nov. 20 /CNW Telbec/ - Constellation Copper Corporation

Codelco Slashes China Copper Fee by 32% in 2009, Buyers Say

China Mining — Thu, 20 Nov 2008 19:44:00 +0000

Chile's Codelco, the world's biggest copper producer, cut the surcharge on sales to China by 32 percent to encourage buyers to enter into long-term contracts as global growth slows. The company will reduce its fee, added to the London Metal Exchange cash

Nunavik Nickel Project Exploration Update: New Mineralization Discovered; High-Grade Massive Sulphides Intersected at Cominga

Canadian News Wire — Thu, 20 Nov 2008 16:40:00 +0000

MONTREAL, Nov. 20 /CNW Telbec/ - Canadian Royalties Inc. (TSX: CZZ) is pleased to announce the discovery of a new zone of Nickel-Copper-PGE (platinum group element) mineralization on the Cominga grid, located 5 kilometres west

BRIEF-Inmet to acquire remainder of Petaquilla project from Teck Cominco

CNBC — Thu, 20 Nov 2008 14:45:00 +0000

Nov 20 (Reuters) - Inmet Mining Corp: * To acquire remainder of petaquilla project from Teck Cominco * Says purchase price of approximately US$30 million * Says Teck Cominco Ltd elected to end its participation in Petaquilla copper project * Says to

Golden Harp intersects 1.45 g/t gold over 8.8 m, including 5.05 g/t gold over 1 m at Golden Sylvia; geophysical surveys identify new targets

Canadian News Wire — Thu, 20 Nov 2008 14:00:00 +0000

VANCOUVER, Nov. 20 /CNW/ - Golden Harp Resources Inc. (TSXV:GHR) today announced partial results from the Company's recent diamond drill program (6 holes, 1623.4 metres) at the Copper Hill gold and base metal property in

Chile Codelco Copper Miner Freezes Hiring To Cut Costs-Report

Wall Street Journal — Thu, 20 Nov 2008 13:29:00 +0000

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Inmet to Acquire Remainder of Petaquilla Project from Teck Cominco

Canadian News Wire — Thu, 20 Nov 2008 13:15:00 +0000

TORONTO, Nov. 20 /CNW/ - Inmet Mining Corporation (IMN-TSX) announced today that Teck Cominco Limited has elected to end its participation in the Petaquilla copper project.

Minmetals signs finance deal for Peru mine project

China Mining — Thu, 20 Nov 2008 12:11:00 +0000

Chinese trading firm Minmetals Corp signed a framework deal with Chinese and Peruvian banks on Wednesday, which could lead to financing of its Galeno copper project in Peru. A 2007 feasibility study on the roughly $1 billion Galeno project showed that

UPDATE 3-Copper and aluminium hit 3-yr lows on slow demand

Reuters — Thu, 20 Nov 2008 11:56:00 +0000

* Copper and aluminium hit multi-years low * Automotive sector threatened, recession fears intensify * Stocks rise for all metals, except lead (Adds comment/details, changes dateline PVS SINGAPORE) LONDON, Nov 20 (Reuters) - Aluminium and copper touched

Bearish Codelco cuts copper premiums to China by 32 percent

Mineweb — Thu, 20 Nov 2008 09:41:34 +0000

With Chinese consumers seemingly gloomy on 2009 domestic demand, the world's largest copper miner has cut its term premiums to the Chinese market to $75 a tonne.

CAMEC

Mining MX — Thu, 20 Nov 2008 07:01:00 +0000

[miningmx.com] -- C CAMEC, the African focussed emerging diversified producer, announces that it has temporarily halted copper and cobalt mining operations in the Democratic Republic of the Congo. 'The decision is a swift reaction to a sudden steep