Articles Tagged "Chile"

Codelco to Fall Short on China Copper Shipments, Country Could Buy Spot Copper

Reuters reported today that Chile's Codelco could cancel as much as 10,000 tonnes of its term copper shipments to China, which could pressure China to buy copper elsewhere. According to Reuters, and unnamed source stated that Codelco has already cancelled 7,000 tonnes of shipments so far, and BHP Billiton (NYSE:BHP) has also asked to delay some of its term copper shipments to China.

Copper Prices Fail to React to Chile Earthquakes

Bloomberg Businessweek reported today that Copper prices have dropped 0.7 percent on the LME since an 8.2 magnitude earthquake put Chilean mines in danger on April 1. Industry leaders will discuss falling prices for the metal at Cesco 2014, the industry's annual meetup taking place this week in Santiago. Talks will likely focus on Chinese stimulus efforts as well as the anticipated copper surplus for this year.

Chile Mines Unharmed after Recent Quake

Reuters reported that most Chilean mines seem to have held up well against a recent 8.2 magnitude earthquake in the mineral rich region. No damage was reported to the Collahuasi copper mine, and Coldeco, Antofagasta and Teck Resources all said that their mines were functioning well.