Zambia Copper Mines Caught Between Miners and Chinese Investors
Copper is key to Zambia's economic success, which needs Chinese investors. But workers are being abused at Zambia's Chinese-operated mines.
Copper is key to Zambia's economic success, which needs Chinese investors. But workers are being abused at Zambia's Chinese-operated mines.
Copper futures retreated Thursday, snapping Wednesday’s rally to a three-month high, as negative sentiment over China’s economic future outweighed better-than-expected US manufacturing data.
Copper rose Tuesday, on the back of an agreement by French banks to rollover Greek debt. France introduced a “creative” solution to the Greek debt-crisis on Monday, suggesting that banks roll over some Greek debt for 30 years, in order to help the struggling economy avoid insolvency.
Copper dropped on Tuesday, marking the first time in five days that the metal treaded into negative territory. Copper for delivery in three months fell $91, or 1.2 percent, to $7,419 a metric tonne at 10:07 a.m. on the LME.
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