Copper gains on expectations that the Federal Reserve will keep rates low until 2014 in order to keep the US economy's path to recovery on even keel.
The still-sluggish economy will challenge copper producers in 2012, but they continue to race to raise output as demand is seen to outstrip supply.
Platts reported that SONAMI sees Chile's 2012 copper production at 5.5 million tons.
Bloomberg reported that production at Codelco's mines in Chile is up through September 2011.
The Eurozone's woes continue to keep copper prices down, but optimism prevails as many analysts see global demand rising over the next year.
Codelco has taken legal action against Anglo American following the sale of a 24.5 percent stake in its Chilean operation to Japan's Mitsubishi, sparking tensions between Chile's global copper producers.
Copper's antimicrobial properties is slashing infections rates in hospitals and may heat up the copper market further.
Polar Star Mining Corp. (TSX:PSR) is a mining company focused on acquiring, exploring, and developing assets in Chile. Polar Star has three properties in Chile: Montezuma, Los Azules, and Chépica.
Bloomberg reports Chile’s peso rose as copper prices and European stocks rallied.
Bloomberg reports that the Chilean peso remains little changed as the euro increased to counter increases in the price of copper.
Friday, January 27, 2012