Copper Investing News» Metalloinvest

Supply threats lend support to copper

Mike Rodger — Fri, 12 Sep 2008 06:39:54 +0000

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 [...]

Deripaska Withdraws Udokan Copper Bid

Mike Rodger — Tue, 09 Sep 2008 15:07:16 +0000

Russian billionaire, Oleg Deripaska’s, mining unit Basic Element rescinded their bid from an auction for the Siberian located copper deposit Udokan.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 [...]

Norilsk May be Involved in Udokan

Mike Rodger — Fri, 15 Aug 2008 21:40:26 +0000

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 [...]

Declining Asian Consumption and a Diving US Dollar Battle Copper Prices

Mike Rodger — Wed, 16 Jul 2008 16:25:27 +0000

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, [...]

Russian Tycoon Joins Udokan Copper Race

Mike Rodger — Fri, 11 Jul 2008 15:54:36 +0000

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 [...]