martes, 25 de julio de 2017

Copper price surges to 2-year high

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Mining News Digest
Wednesday 26 July 2017
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Chinese data, tight supply light fire under copper price launching copper mining stocks higher – Freeport up 15%.

It now expects adjusted earnings per share to come in at $5, significantly higher than the $3.75 it had forecast just three months ago and almost doubled the $2.90 it had originally projected for the year.

Shareholders hadn't received dividends since 2015, when iron ore fell below $40 a tonne amid a global crash in commodity prices.

Labour disputes earlier in the year caused delays in the building of a new plant in its Cullinan mine in South Africa.

Newmont Mining Corp handily beat quarterly profit estimates on Tuesday as production improved, more than offsetting the impact of lower realized gold prices, lifting the miner's shares as much as 7.7 percent to a five-month high.

Brazil's government will announce an increase in mining royalties and the creation of a new agency to regulate the industry in a bid to inject new life in Brazilian mining, three sources with knowledge of the matter told Reuters on Monday.

Zaldívar produced 102,000 tonnes of copper in 2016.

Zambia's Konkola Copper Mines (KCM) said on Tuesday it was halting operations indefinitely at its Nchanga underground mine (NUG) in Chingola state due to theft of high voltage cables.

The world's 8th largest potash producer, the Jordanian firm Arab Potash Company Ltd., is engaging the services of the German engineering and exploration company DMT for a ground survey at the Dead Sea.

1 Day Spot Gold Price
1 Month Copper Price
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