Amid dismal economic data out of Europe, copper made slight gains from an eight-month low as Chile’s port strike caused a supply squeeze.
Articles Tagged "Chile"
Reuters reported that February copper production in Chile rose by 2.8 percent from a year earlier.
Bloomberg reported that a port strike in Northern Chile is resulting in shipment delays.
Mining Weekly reported that labour unrest from striking contract workers at Chile's Escondida mine has ended.
Mining Weekly reported that Chilean copper output rose by 8 percent in January
Codelco is the latest mining company poised to start operations in Ecuador. But even as President Rafael Correa prepares a more investment-friendly mining law, local communities and environmentalists are promising to put up a fight.
Reuters reported that output from the world's largest copper mine, Escondida, jumped up by 31.6 percent in 2012.
Chile’s copper output could hit a new record this year as BHP Billiton squeezes more life out of the world’s largest copper mine, Escondida. As such, the company may be complicit in tipping the global supply-demand balance into a surplus — and ultimately putting pressure on copper prices.
Mining Weekly reported that Chile's copper output fell marginally in December, but registered an increase of 3 percent for total output in 2012, year-over-year.
Copper prices regained some traction on encouraging export figures from China, but signs that Chinese manufacturers are taking advantage of existing copper stockpiles have prevented investors from pushing the red metal back to the two-and-a-half-month high it reached at the start of the year.