By Leia Michele Toovey – Exclusive to Copper Investing News Copper stretched forward Friday, retracing from the five week low it hit on Thursday. Thursday’s price was weighed down by a stronger dollar and weakening global economic growth. The phrase “global recession” popped up again this week after German data showed business confidence declined to [...]
Southern Copper Corp. reported their second quarter profits as 24 percent lower than one year ago. The Peru-based company saw the loss during a time of strikes and higher fuel and production costs. Grupo Mexico SA is a 75 percent owner of Southern Copper, which is one of the world’s largest copper producers, with mines [...]
Copper mines in Peru’s Arequipa region will be provided with copper extraction lines from Outotec Oyj. Southern Copper Corp granted the $150 million contract with a focus to refine copper in their Tia Maria project, which is scheduled for a 2010 start. Southern Copper, known until 2005 as Southern Peru Copper Corp., is a unit of Grupo [...]
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