The first shipment of copper concentrates from Copper Mountain Mining’s (TSX:CUM) mine has made it to the Onahama port in Japan, a key milestone, for the first new copper mine to open in the Province of British since 1998.
Copper prices continued to hover around nine-month lows following the release of more negative economic data and IMF cutback.
Fjordland Exploration Inc. (CVE:FEX) and Cariboo Rose Resources Ltd. (CVE:CRB) report receiving drill results from six new holes (2,287 m) of the 2011 infill and expansion diamond drilling program, Woodjam South, BC, Canada.
The copper market has continuously been plagued with labour disputes for years, however, this year strikes have been especially prevalent with workers believing that they are entitled to larger pay cheques and benefits as they perceive that their employers are “raking in the cash” on the back of high metals prices.
To obtain pure copper, mined rock must go through several processing stages before it is considered market ready.
Copper’s push towards record-highs was stymied Wednesday, as traders took a strengthening greenback as a signal that it was time to take profits.
There is a renewed interest in Cyprus’ copper deposits due to record high copper prices, and an improvement in mining technology.
In an interview with Resource Investing News, Yu-Dee Chang principal at ACE Investment Strategists Inc. attributed the recent volatility of copper prices to the “shift of investment demand in copper from small speculators to larger hedge funds.”
Canyon Copper Corp. (CVE:CNC) reports that following completion of its brokered private placement financing.
The copper market has been rattled by an increase in worker uprisings, as employees are, once again, asking for increased wages and job stability as they see their companies raking in profits on the back of relatively high copper prices.
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