Following a six month export halt due to strict rules implemented in January, Freeport-McMoRan struck a deal with the Indonesian government on Friday to resume shipments of copper concentrate.
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“Platinum is the new gold,” said Robert Friedland at this week’s Vancouver Natural Resource Symposium. However, “the copper story is equally compelling.”
Cindy Burnett of Capstone Mining outlines the company’s strategy, what its plans are moving forward and what she believes the future holds for copper.
Midnight Sun Mining Corp. (TSXV:MMA) released results from its core drilling program that was recently completed on the Solwezi copper property in northwest Zambia. The program was undertaken during April and May of 2014 and consisted of 739 metres HQ core drilled in 12 holes, and targeted an area of the Solwezi property roughly 10 kilometres southwest of First Quantum Minerals’s (TSX:FM) Kansanshi mine, the largest copper mine in Africa.
Bloomberg reported today that Zambia Railways Ltd. is looking to secure at least $350 million to expand copper shipments in the landlocked nation.
Reuters reported that Zambia, Africa’s top copper producer, has introduced a 10-percent export duty on semi-processed base metals, including copper. The move follows the country’s suspension earlier this month of a 10-percent export duty on unprocessed metals exports.
In Africa, copper production comes primarily from Zambia, South Africa and the Democratic Republic of the Congo’s Katanga Province.
South American Silver Corp. (TSX:SAC,OTCQX:SOHAF) appointed Paul Sheehan as a Director of the Company.
Bloomberg reported that Glencore Xstrata’s (LON:GLEN) copper production rose by 22 percent in Q2 on increased activity at its African mines.As quoted in the Bloomberg report:
Sama Resources Inc. (TSXV:SME) announced that the NI 43-101 for their Samapleu deposits in Cote d’Ivoire, West Africa has been revised to reflect significant increases, including an indicated mineral resource of 14.1 million tonnes grading 0.24% nickel and 0.20% copper and containing 61.2 million pounds of copper.