By Leia Michele Toovey- Exclusive to Copper Investing News Wednesday was the first day in five sessions that U.S. copper futures ended up. The change in trend comes after a reduced production outlook from a top producer and an earthquake in northern Chile re-ignited some fears of a shortfall in supply. The price of copper [...]
Continue reading "Supply threats lend support to copper"
Tuesday, September 9, 2008
Russian billionaire, Oleg Deripaska’s, mining unit Basic Element rescinded their bid from an auction for the Siberian located copper deposit Udokan. Strikeforce Mining and Resources Ltd. (SMR) did not see the economic sense of bidding independently. Russia’s Natural Resources Ministry is scheduled to award the Udokan field, which contains over 13 million tonnes of copper, in [...]
Continue reading "Deripaska Withdraws Udokan Copper Bid"
Friday, August 15, 2008
Russian Technologies is considering having Norilsk Nickel join with them and Metalloinvest if they are to win their bid for the big Udokan copper field in Siberia. Udokan is one of the world’s largest untapped copper fields and stands to provide Russia with 15 percent of its current output of copper. Russian Technologies head Sergei [...]
Continue reading "Norilsk May be Involved in Udokan"
Wednesday, July 16, 2008
By Leia Michele Toovey – Exclusive to Copper Investing News The two major news pieces on the copper market early this week are: declining Chinese consumption, and Fannie and Freddie’s bailout wrecking havoc on the US economy. Top copper consumer China released a report showing copper consumption levels in June down 17% compared to May, [...]
Friday, July 11, 2008
Billionaire Alisher Usmanov, half-owner of Russia’s Metalloinvest mine, is in the race to develop the Udokan copper field. Several companies have already submitted bids, including Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz), Russia’s largest copper miner, and Strikeforce Mining and Resources Ltd (SMR), the mining arm of billionaire Oleg Deripaska’s Basic Element company. Read the complete article [...]
Continue reading "Russian Tycoon Joins Udokan Copper Race"
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Thursday, September 11, 2008