Copper

Copper Climbs on Indications of Rebounding Economy in the U.S.

By Maria Kolesnikova

Copper rose in London, narrowing a second weekly drop, before a report on U.S. industrial production projected to add to signs of an economic revival in the world’s second-biggest consumer of the metal.

Output climbed 0.2 percent in May, the third gain in four, economists said. Small businesses in the U.S. were the most optimistic in a year, Read more

Copper market could be tightening more than many anticipate -Russell

By Clyde Russell

The market may be too sanguine about the outlook for copper prices, as import demand in top consumer China shows signs of increasing just as an anticipated global supply surplus is looking vulnerable.

Shanghai copper fell on Thursday when trading resumed after a three-day holiday, Read more

Copper Gains Most in a Week on Supply Concern as Nickel Declines

By Maria Kolesnikova

Copper rose the most in a week in London amid supply concern as the world’s second-biggest copper mine in Indonesia remains shut after a deadly accident. Nickel sank to the lowest level since July 2009.

Freeport-McMoRan Copper & Gold Inc. (FCX) rescheduled concentrate shipments to its customers and is yet to declare a force majeure, President Director Rozik B. Soetjipto said today. Read more

Peru’s gold, silver, copper output up in April— Ministry

By Dorothy Kosich

Peru’s gold production increased 6.19% in April compared with a year ago, as copper output rose 5.46% and silver production was up 2.53% during the same period, the country’s Mines and Energy Ministry has reported.

Gold production increased from 14,040,384 grams (451,408 troy ounces) in April 2012 to 14,909,355 grams (479,346 troy ounces) in April 2013. However, for the first four months of this year, Read more

Copper Climbs for First Day in Five on Concern Over Mine Supply

By Jae Hur

Copper advanced for the first time in five days, rebounding from the lowest level in more than three weeks, on concern that a disruption at Freeport-McMoRan Copper & Gold Inc. (FCX)’s Grasberg mine in Indonesia will cut output.

Copper for delivery in three months on the London Metal Exchange rose as much as 0.9 percent to $7,223.25 a metric ton and was at $7,181 at 11:06 a.m. in Tokyo. Read more

Copper Climbs First Day in Three on Supply Concerns, Weak Dollar

By Sungwoo Park

Copper rose for the first time in three days amid growing concerns that a shutdown of the world’s second-biggest mine will curb supplies and a weakening dollar may boost the appeal of metals as an alternative investment.

Copper for delivery in three months gained as much as 0.6 percent to $7,376 a ton on the London Metal Exchange and was at $7,351.50 at 11:22 a.m. in Seoul. Read more

Glencore hits the mining brakes

Copper rises on supply concern as Grasberg mine stays shut

By Debarati Roy & Agnieszka Troszkiewicz

Copper rose to the highest in more than a week on prospects for reduced supply of the metal as the world’s second-biggest mine remained closed following deadly accidents.

Freeport-McMoRan Copper & Gold Inc.’s Grasberg mine in Indonesia will be shut for as long as three months while the government holds an investigation. Read more

Copper Climbs for Second Day as Indonesia Mine Output Stays Shut

By Sungwoo Park

Copper advanced to near the highest level in more than a week amid a shutdown at the world’s second-biggest mine and signs of improvement in manufacturing activity in China, the biggest consumer.

Metal for three-month delivery climbed as much as 0.6 percent to $7,380.25 a metric ton on the London Metal Exchange at 11:43 a.m. in Seoul. Read more

Copper Gains as Chinese Manufacturing Gauge Unexpectedly Rises

By Agnieszka Troszkiewicz

Copper climbed the most in almost two weeks in New York after an official manufacturing gauge rose unexpectedly in China, the world’s biggest user of the metal.

A purchasing managers’ index released June 1 gained to 50.8 in May rather than dropping to 50.0 as predicted by economists. Prices also increased after Freeport-McMoRan Copper & Gold Inc. Read more

Copper Set for First Monthly Gain in Four on Mine Supply Concern

By Jae Hur

Copper was poised for the first monthly gain in four amid concern that miners will refuse to resume work at Freeport-McMoRan Copper & Gold Inc.’s Grasberg mine in Indonesia after an accident halted production.

The metal for delivery in three months on the London Metal Exchange advanced as much as 0.4 percent to $7,349.25 a metric ton and was at $7,341.50 at 10:19 a.m. in Tokyo. Read more

Costs force OZ Minerals to delay mine project

By Barry Fitzgerald

Copper Pares Monthly Gain as Freeport Can Start Some Mining

By Jae Hur

Copper fell, paring its first monthly gain in four months as Freeport-McMoRan Copper & Gold Inc. (FCX) said it can start open-pit production at Indonesia’s Grasberg mine after an accident halted operations.

The metal for delivery in three months on the London Metal Exchange retreated as much as 0.6 percent to $7,276.75 a metric ton and was at $7,311.75 at 10:46 a.m. in Tokyo. The price has risen 3.6 percent this month. Futures for delivery in July on the Comex were little changed at $3.3135 per pound. Read more

Sicomines to Begin Copper Output in 2015 as Reserve Estimate Cut

By Michael J. Kavanagh

Sicomines, a joint venture between a group of Chinese companies and Democratic Republic of Congo’s Gecamines SA, will start production of copper in 2015 after it cut proven reserves by a third, a Congolese official said.

The venture, which is part of a $6 billion minerals-for-infrastructure deal between China and Congo, has discovered 6.8 million metric tons of proven copper reserves, Read more

Copper Climbs Amid Mine-Supply Concern, Falling Stockpiles

By Sungwoo Park

Copper was set for a weekly gain amid concerns that an accident at the world’s second-biggest mine may curb supply as the U.S. economy shows signs of a recovery.

Metal for delivery in three months on the London Metal Exchange climbed as much as 0.7 percent to $7,352.25 a metric ton Read more

Newcrest licence under review after Gold and Copper Resources claim

By Rhiannon Hoyle

Copper Futures Rise to Five-Week High on Freeport Woes

By Joe Richter & Agnieszka Troszkiewicz

Copper futures rose to a five-week high on mounting concern that a deadly accident at the world’s second-biggest mine may crimp supplies as a recovering housing market boosts metal demand in the U.S.

Operations will remain suspended at Freeport-McMoRan Copper & Gold Inc. (FCX)’s Grasberg complex in Indonesia until a probe of a tunnel collapse that killed 28 people is concluded, Read more

Newcrest hopeful of licence victory in bitter court fight

By Sarah-Jane Tasker

NEWCREST Mining is confident an exploration licence over a parcel of land near its Cadia East project in NSW will be re-confirmed following a court ruling that calls into question the government process that led to the renewal.

The goldmining giant is fighting legal attempts by private exploration junior Read more

Solvista hits gold-copper whopper in Colombia

By Kip Keen

While it didn’t revolutionize Solvista Gold’s view of its Caramanta project in Colombia, few would argue it was a featherweight copper-gold intercept. Solvista’s shareprice took off Tuesday – up 40 percent at presstime – after it reported 457 metres @ 1.01 g/t gold and 0.21 percent copper. Solvista called this its longest and most continuously mineralized intercept yet drilled at Caramanta, in Colombia’s Antioquia state. Read more

Copper Rises for Fourth Day as Deadly Mine Accident Spurs Buying

By Agnieszka Troszkiewicz

Copper rose for a fourth day in New York, poised for the longest streak of gains since October, as investors bought metal to close out bets on a decline after a deadly mine accident fueled supply concern.

Operations will remain suspended at Freeport-McMoRan Copper & Gold Inc.’s Grasberg complex until an investigation of a tunnel collapse is concluded, Indonesia’s government said today. Read more

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