jueves, 21 de septiembre de 2017

More bad news for copper

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Mining News Digest
Friday 22 September 2017
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Concentrate supply appears abundant as Chinese smelters hike treatment and refining charges by as much as 10%.

Benchmark price down 7.4% on Thursday.

Russian miner is currently trying to decide on whether to sell the 27.85-carat rock as a rough diamond, or cut and polish it.

Company said it preserved the right to shut down operations in the country and to take legal actions to protect itself and its assets should the dialogue with the ministry of energy and environment fails.

Ken Mackenzie vowed "to bring a fresh perspective to management's ongoing process of reviewing the portfolio" and "the way we allocate cash".

Brazil-based mining company Votorantim Metais Holding SA filed on Thursday for an initial public offering in New York and Toronto, to tap into a wide base of investors betting on a long-term recovery in zinc, copper, lead and silver prices.

As always when prices start to decline after a surge that appeared unrelated to supply-demand fundamentals, the question is will the reverse become a rout and where exactly does fair value lie?

The National Union of Mineworkers said on Thursday its members would go on an indefinite strike at the mine over wages, benefits.

Brings the total to $4 billion for the year.

Company is doubling down on efforts to find early-stage mining projects to acquire and is open to deposits that depart from its focus on silver and gold.

From next month the US Federal Reserve will shrink the $4.5 trillion balance sheet it built up following the 2008 financial crisis.

1 Day Spot Gold Price
1 Month Copper Price
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