Copper could be pushed to its marginal cost of production due to low demand. While copper has held up very well compared to other metals during global market upheaval it may still drop further according to David WIlson, senior economist at Norilsk Nickel. Because the prices are above the marginal cost of production, there is [...]
Russian billionaire, Oleg Deripaska’s, mining unit Basic Element rescinded their bid from an auction for the Siberian located copper deposit Udokan.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 [...]
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 [...]
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