By Leia Michele Toovey- Exclusive to Copper Investing News This week on the London Metal Exchange, the industrial metals rallied. Copper for delivery in three months jumped $525, or 13 per cent, to $4,655 a metric ton. Aluminum advanced 2.7 per cent, nickel 7.8 per cent and zinc 7 per cent. This was a welcome [...]
Read the full article: "Is this the copper rebound we have been..."
Thursday, October 23, 2008
By Leia Michele Toovey- Exclusive to Copper Investing News On the Shanghai Exchange, copper has tumbled 18 per cent this week alone, putting the year’s cumulative losses at 41 per cent. The current price point of copper puts it on par with the level it was at in December 1999. Copper for January delivery dropped [...]
Read the full article: "Copper joins the base metals slide"
Tuesday, October 21, 2008
The third quarter earnings of Freeport-McMoRan Copper & Gold Inc fell 33 percent as metal prices declined. Kerry Smith, mining analyst at Haywood Securities Inc, said: At about $2.20 a pound for copper, they’re feeling the pain at some of their operations. In the short term, I wouldn’t expect to see closures, but if we have [...]
Read the full article: "Freeport Profit falls 33% as Copper Price..."
Tuesday, October 21, 2008
The Australian company has opted out of the race to explore, develop and operate Hindustan Copper’s Banwas mines citing poor global financial conditions. Mr Steve Coughlan, MD, Byrnecut Mining, said: There has been significant material changes in the industry since the date of our original submission (December, 2007) due to the global downturn and fall in [...]
Read the full article: "Byrnecut Mining exits race for Hindustan..."
Tuesday, October 21, 2008
According to data from the International Copper Study Group (ICSG), global consumption of refined copper exceeded supply by 54 000 t between January and July tin 2008. For full news, click here
Read the full article: "'Jan-July: Refined copper deficit was 54..."
Tuesday, October 21, 2008
Copper posts a sharp decline below $2 a pound for the first time since December 2005 amid fears that world economy is headed for a recession, which will result in low demand. Ron Goodis, futures-trading director at Equidex Brokerage, said: It’s very significant to see copper come under $2. People are wondering, `How did it fall so [...]
Read the full article: "Copper falls Below $2 a Pound, Lowest Since..."
Friday, October 17, 2008
Probe Mines Limited has begun sampling of their remaining peridotite found on the McFaulds West property. The preliminary assay results for the McFauld’s West core samples are very encouraging and suggest that the peridotite on the McFauld’s West property has the potential to host PGE mineralization in addition to other metals, such as nickel [...]
Read the full article: "Probe Mines Exploration Update"
Friday, October 17, 2008
Alexis Minerals Corporation has discovered copper-rich massive sulphide zones in the Louvicourt Mine in Val D’Or, Quebec. The massive sulphide horizon sits directly above a substantial 54.0 metre-wide, alteration and copper-rich stringer sulphide zone in a classical association that characterizes many Volcanogenic Massive Sulphide (VMS) Deposits in the region. Find the complete article here. [...]
Read the full article: "Alexis Discovers Copper-Rich Zones"
Friday, October 17, 2008
Copper prices lost half their value since reaching a record intraday level of $4.27 in May on the New York Mercantile Exchange’s Comex division. “Copper is usually a good gauge of economic health because it is broadly used, but more specifically because it is important to construction and equipment manufacturing that tend to precede [...]
Read the full article: "Copper Offers Peek into Economic Future"
Friday, October 17, 2008
Base metals fell as demand concerns offset firm equities. Industrial metals rose early on Friday but there is still a strong fear about recession. A strong close for U.S. equities on Thursday, with the Dow Jones industrial average .DJI up more than 4 percent, helped underpin stock markets in Europe and Asia. Read the [...]
Read the full article: "Industrial Metals Eye Equities"
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Thursday, October 30, 2008