By Leia Michele Toovey- Exclusive to Copper Investing News After the week started on a good note, on Wednesday a Fed warning that the U.S. economy still faces significant threats and bleak U.S economic data led Wall Street to its worst day since the 1987 stock market crash. Copper dropped as much as 8 per [...]
International Millenium Mining Corp had disappointing drill results from their Cobalt, Ontario property. While good copper mineralization was found near the surface mineralization levels were not at a level worthy of extended drilling. What encouragement there was, came in the form of sphalerite present in most of holes in the southern part of the grid [...]
Santa Fe Metals Corporation announced results from their Cuatro Cienegas project in the State of Coahuila, Mexico. Copper oxide material from Cuatro Cienegas is being tested by Professional Associates Ltd. (PRA) in Richmond, BC. The average head grade as determined by PRA is 1.7% total copper (TCu), of which 86% or 1.46% is leachable oxide [...]
Stocks in Japan plummeted the most in 21 years and saw copper fall in London for a second day. The Nikkei 225 index slumped 11 percent. The U.S. needs to accelerate steps to bail out financial institutions to help arrest plunging stock values, Japan’s Prime Minister Taro Aso said in Tokyo. Copper has dropped [...]
Global recession concerns found copper at a 33-month low, dropping up to 8 percent on Thursday. Base metals were able to pare earlier losses when European shares came back slightly from an earlier drop. There is a very strong link between equities and commodities that will persist for the time being,” Standard Chartered analyst Dan [...]
The top mining port in Chile, Antofagasta, has workers striking for a second day in a row. Demands for higher pay and better working conditions are the reasons behind the strike. Workers started their strike at Antofagasta, which serves Chile’s northern mining region, just before midnight on Tuesday, leaving at least one copper shipment delayed [...]
While Asia was able to offset any demand and price issues happening in the first half of 2008 in the United States the credit crisis is now pulling the copper market down to almost half of what its mid-year peaks were. From Mumbai to Seoul, analysts are paring consumption estimates, worried that a global slowdown, [...]
The Philippines is most likely to grant a green light for operations to begin again at the South Korean-owned Rapu copper and zinc mine. The mine is 30 percent owned by Malaysia Smelting Corp Bhd and 70 percent owned by Korea Resources Inc. and LG International Corp. The Rapu Rapu mine, the first fully [...]
The world’s largest copper producer, Codelco, anticipates a profit drop as copper prices fall. Results for the first half of 2008 were down 12 percent from the first half of 2007 – $4.108 billion to $4.669 billion. Citing what it called a provisional and unofficial 2009 Business and Development Plan (PND 2009) by the state [...]
Copper dropped over 5 percent as concerns about copper demand remain strong. Expectations of weaker global demand for metals were reinforced after the world’s largest copper producer Codelco said the premium for refined copper in Europe will be lower around $80 a tonne in 2009. Read the article here.
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