Mineweb reported that the death toll has risen to 14 after a tunnel collapsed at Big Gossan underground training facility at the PT Freeport Indonesia Grasberg complex, and 14 more are still missing and feared dead.
Bloomberg reported that copper got a boost from supply concerns with the closure of Freeport-McMoRan Copper & Gold Inc.’s Grasberg Indonesian mine after a tunnel collapse.
Bloomberg reported that copper climbed on Friday, reducing losses this week, given a boost by improving U.S. consumer confidence that suggest an up tick in demand.
Candente Copper Corp. (TSX:DNT) provided updates on the Cañariaco copper project.
CNBC reported that a drop in copper prices combined with higher operating costs hit Antofagasta's Q1 profit.
Consolidated Woodjam Copper Corp. (TSXV:WCC) announced that through the Gold Fields Horsefly Exploration Corporation, a subsidiary of Gold Fields Limited(NYSE:GFI, NASDAQ:GFI) have updated resource estimates at Southeast Zone as well as the Deerhorn and Takom Zones.
Mawson West Limited (TSX:MWE) provided its first quarter financial results, including a gross profit of $18.1 million.
Reuters reported that operations have been halted at Freeport-McMoRan Copper & Gold's Indonesian unit after a tunnel collapse killed four and trapped 25 others. As quoted in the Reuters report:
Last month's landslide at Utah's Bingham Canyon, one of the world's largest copper mines, triggered significant discussion on possible copper shortages. Brent Cook, veteran geologist and publisher of Exploration Insights, puts the landslide into perspective in this interview with The Metals Report. And for investors who want to dig out profit potential beyond the yellow metal, Cook gives us a byproduct primer and suggests base metals are a great way to diversify.
Mining Weekly reported that three workers were killed and more were missing after a training tunnel collapsed at the world's second-largest copper mine, located in Indonesia, owned by Freeport-McMoRan Copper & Gold Inc.
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