Fears about global demand growth and weak turnover amongst the majority of investors in the Northern Hemisphere show little change for copper on the London Metal Exchange. People are worried about demand but it is difficult to strip out what is normal seasonal weakness from an overall concern,” said analyst Robin Bhar at Calyon. [...]
H1 and Q2 financial results for Israel’s Silicom Ltd. reflected the difficult market environment and a marked drop in the purchases of the Company’s largest customer. Silicom Ltd. is an industry leader in providing high performance server/appliances networking solutions including copper and fiber optic. On the one hand, our revenues for the quarter suffered from [...]
India’s Sterlite Industries Limited announced a marked improvement in copper unit costs despite the rising energy costs. Tuticorin’s custom smelter produced less copper cathode compared to its corresponding last quarter, however, they plant had implemented a planned maintenance shut down to bring the smelter back to normal production levels over a 26 day period between [...]
By Leia Michele Toovey – Exclusive to Copper Investing News Copper stretched forward Friday, retracing from the five week low it hit on Thursday. Thursday’s price was weighed down by a stronger dollar and weakening global economic growth. The phrase “global recession” popped up again this week after German data showed business confidence declined to [...]
With a weak dollar and jumping oil prices copper found itself rising Friday. Stocks are expected to continue rising and global economic weakness will most likely have an effect on demand thereby putting a cap on copper’s gains. The LME said Friday that global copper inventory rose by a healthy 2,600 tonnes to 133,475 in [...]
The joint partnership of Thundermin Resources Inc. and 50 percent partner Cornerstone Resources Inc. intersected massive to semi-massive sulphide mineralization assaying 2.2 percent copper over 16.8 metres and 3.9 percent copper over 5.9 metres. The property is located in Little Deer, Newfoundland, Canada. Thundermin and Cornerstone have approved an exploration budget of approximately $1,000,000 for [...]
A semi-annual dividend of 6.5 cents per share will be paid out in September 2008 to shareholders in Amerigo Resources Ltd. This is the company’s seventh consecutive semi-annual dividend. Such Forward-Looking Information is based upon the Company’s assumptions regarding global and Chilean economic, political and market conditions and the price of metals, including copper [...]
Southern Copper Corp. reported their second quarter profits as 24 percent lower than one year ago. The Peru-based company saw the loss during a time of strikes and higher fuel and production costs. Grupo Mexico SA is a 75 percent owner of Southern Copper, which is one of the world’s largest copper producers, with mines [...]
New Delhi reported a strong US currency and a weak global market found copper prices falling on the domestic futures market. Traders said reports that global demand of copper would decline and firm US dollar put pressure on the copper prices in the futures market here. “Rising inventories, strong US dollar and slowing demand were [...]
BHP Billiton plans to put US$327 million based on findings near their Escondida copper mine in Chile. BHP noted that its total production of copper at Escondida is 1.4 million tonnes. Drilling at the prospect, which is called Pampa Escondida, showed that it “contains at least 1 billion tonnes of porphyry-style mineralisation”, BHP said, noting [...]
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