A slowdown in China's economy could spell bad news for Chile's economy.
Copper mining has been taking place in Africa for thousands of years and still occurs today.
Copper prices are up on the London exchange supported by a weak dollar and better-than-expected economic data from Japan.
Last month's landslide at Utah's Bingham Canyon, one of the world's largest copper mines, triggered significant discussion on possible copper shortages.
South American Silver Corp. (TSX:SAC,OTCQX:SOHAF) entered into an agreement with a third party funder, pursuant to which the Fund will cover the Company's future costs and expenses related to the international arbitration proceedings against the Plurinational State of Bolivia for the expropriation of the Malku Khota project.
PolyMet Mining (TSX:POM,NYSEMKT:PLM) announced the filing of the final prospectus for an offering of rights to holders of common shares of the Company to raise up to approximately US$60.5 million in gross proceeds. The final prospectus has been filed with the securities regulatory authorities in the provinces of British Columbia, Alberta, and Ontario in Canada and an amendment to its registration statement on Form F-10, of which the final prospectus forms a part, with the U.S. Securities and Exchange Commission.
NASDAQ reported that Rio Tinto has cut 100 jobs at its Kennecott mine in the wake of last month's landslide as it scrambles to reduce operating costs.
VMS Ventures Inc. (TSXV:VMS) announced progress updates from the Reed Copper Project, in which they own a 30 percent interest.
Equinox Copper Corp. (TSXV:EQX) CEO, Corey Dias, spoke with the Investing News Network at PDAC in Toronto on Chile being one of the best mining jurisdictions in the world.
Polymet Mining Corp (TSX:POM) CFO, Douglas Newby spoke with the Investing News Network during PDAC 2013 in Toronto. Polymet is a Canadian company with a large Copper-Nickel project, the NorthMet project, in northeastern Minnesota. The Company is currently at permitting stage for its Minnesota project, Mr. Newby commented that obtaining permits can sometimes be challenging in the U.S. but once a project is fully permitted it is an advantageous jurisdiction.
Excelsior Mining (TSXV:MIN) President and CEO, Stephen Twyerould, spoke with the Investing News Network during PDAC in Toronto on their flagship copper project in Arizona.
Pasinex Resources (CNSX:PSE) President and CEO, Steve Williams, spoke with the Investing News Network during PDAC in Toronto on Turkey as a mining jurisdiction and upcoming plans for their two projects in 2013.
Reuters reported that copper was delivered a blow from poor Chinese PMI data, raising concern about demand.
A weakened dollar and a production outage at the world's second-largest copper mine in Indonesia have boosted copper prices.
Reuters reported that copper rallied to a two-week high, lifted by supply concerns after the stoppage in production at Grasberg and on a soft dollar. As quoted in the market report:
opper prices were down on May 21 on the London Metal Exchange due on the back of weak import figures from China.