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 [...]
Continue reading "Disappointing Drill Results in Ontario"
Thursday, October 16, 2008
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 [...]
Continue reading "Santa Fe Metals Yields 3.2% Copper"
Thursday, October 16, 2008
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 [...]
Continue reading "Copper Drops to 33-Month Low"
Thursday, October 16, 2008
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 [...]
Continue reading "Chile Copper Mine Port Strike"
Wednesday, October 15, 2008
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 [...]
Continue reading "S. Koreans May Restart Copper Mine"
Wednesday, October 15, 2008
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 [...]
Continue reading "Chile's Codelco Copper Price to Drop"
Tuesday, October 14, 2008
Vedanta Resources Pic, the India-focused metal group, saw its copper production fall in their second quarter. Vedanta also said on Monday its expansion projects were progressing well, including a new aluminium smelter in India that is ramping up and a copper smelter in Zambia. Vedanta shares, which have shed 65 percent since touching a [...]
Continue reading "Vedanta Q2 Copper Down"
Friday, October 10, 2008
Record high prices for sulphuric acid, which is used in the production of copper and extraction, are impacting margins. Chile, the world’s largest copper producer, is likely in the next few days to set this year’s global benchmark prices for sulphuric acid and analysts say they may double. Find the complete article here. 2007 saw [...]
Continue reading "Acid Prices Add Pressure to Copper"
Friday, October 10, 2008
KGHM has invested in two projects for its copper mill. Europe’s largest copper miner KGHM KGHM.WA approved two investment projects in its copper mill and two gas fueled energy units worth a total of 2.3 billion zlotys ($917 million), the company said on Friday. The article can be found here.
Continue reading "Polish Copper KGHM Approves Investments"
Friday, October 10, 2008
Due to the financial global crisis the Russian Copper Company has sidelined their intentions to expand into nickel and build a zinc plant with a rival company. The company, Russia’s third largest copper producer, intends to continue its current projects without any production cuts. “We are not closing any projects. We are only putting on [...]
Continue reading "Russian Copper Freezes Zinc, Nickel Projects"
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Thursday, October 16, 2008