Copper Stocks Articles

Chile losing ground as top copper producer since metal price in the pits

Jan. 22, 2016, 11:03 AM / Cecilia Jamasmie

Not even Chuquicamata, the world's largest open pit copper mine, seems to be able to rescue Chile at the moment. (Courtesy of Codelco via Flickr)Resilience in the copper industry, its producers and investors, continues to be tested this year, as the metal price has touched fresh lows, falling last week to $1.95 per pound, a price last seen in May 2009, and analysts don't see a clear end to China's...Read More

LME said in talks with banks to list gold contracts in London

Jan. 22, 2016, 5:58 AM / Bloomberg

The London Metal Exchange is in talks with the World Gold Council and five banks about the possibility of introducing futures contracts on gold and standardized central clearing, according to two people familiar with the matter.The talks are exploratory and there's no time frame for a decision on the contract, which would be for delivery in London, said the people, who asked not to be identified b...Read More

Moody's puts 175 energy and mining firms on review as low prices bite

Jan. 22, 2016, 3:50 AM / Cecilia Jamasmie

The top five mining companies and three of the world's biggest energy groups are among the hundreds the hundreds of mining and energy firms that Moody's placed on review for a credit downgrade. (Image: Screenshot via TheDollarVigilante | YouTube)BHP Billiton, Rio Tinto, Anglo American and Vale are among the dozens of mining and energy firms that Moody's placed on review for a credit downgrade on F...Read More

Barrick braces for up to $3 billion in writedowns

Jan. 22, 2016, 2:08 AM / Cecilia Jamasmie

Work at the now halted Pascua-Lama gold, silver and copper project. (Image from archives)Canadian Barrick Gold (TSX, NYSE:ABX), the world's largest producer of the metal by output, brought some fresh bad news to investors late Thursday as it warned expected to book up to $3 billion in impairment charges amid continued weakness in gold prices.The Toronto-based miner has had a rough time in the Lati...Read More

Canada's Nevsun defends itself against abuse allegations in Eritrea

Jan. 22, 2016, 1:49 AM / News 1130

Should foreigners who allege human rights abuses against a Canadian company operating in a foreign land have their case heard in a Canadian court?Such arguments are currently being heard in a Vancouver court. The case involves Vancouver-based mining company Nevsun and three employees from Eritrea.In their notice of civil claim, the employees say they "were subjected to cruel, inhuman and degradin...Read More

Rick Mills: How to profit from the demands of a growing world population

Jan. 22, 2016, 12:46 AM / The Gold Report

As the world prepares to house, feed and care for 9.7 billion people, Ahead of the Herd founder Rick Mills is looking for the companies that will profit from the silent tsunami of demand creeping up on resource and healthcare providers. In this interview with The Gold Report, Mills reveals the six companies he thinks are well positioned in their respective sectors to ride this population wave to p...Read More

INFOGRAPHIC: The periodic table of commodity returns

Jan. 21, 2016, 12:56 AM / Visual Capitalist

Courtesy of: Visual CapitalistAt the beginning of each year, U.S. Global Investors puts out a fantastic visualization called the Periodic Table of Commodity Returns. This year's version has an interactive design that allows users to sort returns by various categories including returns, volatility, and other groupings.For those keeping score, 2015 was a historically bad year for commodities in almo...Read More

Greek court annuls Govt. decision to revoke Eldorado Gold licence

Jan. 20, 2016, 10:00 AM / Cecilia Jamasmie

Construction of a concrete batching plant at Skouries mine. (Image courtesy of Eldorado Gold)Greece's top administrative court ruled Wednesday that last year's government decision to revoke Canada's Eldorado Gold (TSX: ELD) (NYSE:EGO) mining licence in the country's north was baseless, Reuters reports.The Vancouver-based company had appeal appealed Greece's energy and environment ministry order...Read More

Oil, Asian stocks rout deepen miners wounds

Jan. 20, 2016, 4:06 AM / Cecilia Jamasmie

Global stocks sank to their lowest levels since 2013 on Wednesday, hit by yet another drop in oil prices and the IMF's lower growth forecast for China, which is leading equity markets to one of their worst monthly performances ever.Brent crude, the international energy benchmark, was trading this morning at $28.07 per barrel, the lowest price in 13 years.Prices for copper, often viewed as a barom...Read More

Double-digit growth expected for Chile, Colombia, Peru and Mexico - Scotiabank

Jan. 20, 2016, 1:00 AM / Financial Post

Despite recent market volatility and exposure to low oil and commodity prices, Bank of Nova Scotia has set double-digit growth targets in four Pacific Alliance countries: Chile, Peru, Colombia, and Mexico.Dieter Jentsch, group head of international banking at Canada's third-largest bank, said the targets were based in part on the expectations of central bankers in those countries, all four of whom...Read More

Shrinking land base for mineral exploration in B.C. risks industry

Jan. 20, 2016, 12:07 AM / Association for Mineral Exploration BC

The Association for Mineral Exploration British Columbia (AME BC) is calling for action on the part of the Provincial Government in the wake of a new report highlighting the shrinking land base available for the exploration of hidden and valuable minerals in B.C. as well as the increasingly complex government policies that exploration companies are forced to navigate. Without ongoing exploration t...Read More

Freeport Indonesia boss steps down

Jan. 19, 2016, 5:39 AM / Cecilia Jamasmie

The deposit was first discovered in the 1930s and Freeport McMoRan has been mining copper, silver and gold at Grasberg in remote Indonesia since the 1970s. In terms of reserves, Grasberg is still the richest deposit on the planet.The chief executive of Freeport McMoRan's Indonesian unit, Maroef Sjamsuddin, has resigned Tuesday, less than a month after the chairman of the U.S. mining giant steppe...Read More

Grupo Mexico seen bucking copper slump as analysts recommend buy

Jan. 19, 2016, 1:00 AM / Bloomberg

Grupo Mexico SAB is charging ahead into the worst metals market in 15 years, taking advantage of the slump to ramp up growth while competitors cut back and hunker down.Mexico's biggest copper producer is leveraging its relatively low debt and strong profit margins to invest more than $4.6 billion expanding some of its mines, making it one of the favorite picks for analysts' covering the sector thi...Read More

MMG's gigantic Las Bambas mine in Peru makes first copper shipment to China

Jan. 18, 2016, 10:57 AM / Cecilia Jamasmie

Las Bambas mine, located at 4,000 metres in the south of the South American country, is set to deliver 400,000 tonnes of copper per year during the first five years of production, placing it within the top three copper mines globally. (Image from archives)China-backed miner MMG Ltd has made a first shipment of 10,000 tonnes of copper concentrate from its Peru-based Las Bambas mine, one of the worl...Read More

World's two biggest miners expected to cut dividend

Jan. 18, 2016, 9:40 AM / Globe and Mail

Two giants of the global mining industry, already beset by plummeting metal prices, now face a new challenge - preparing their shareholders for sharply lower dividends.BHP Billiton Ltd. and Rio Tinto PLC have both said in the past that they are committed to the payouts, but most observers doubt that sticking to the dividends is practical in today's bleak environment for commodity producers.At thei...Read More

Devastation caused by illegal miners in Peru reaches national reserve

Jan. 18, 2016, 4:17 AM / Cecilia Jamasmie

The Tambopata National Reserve, in the Peruvian Amazon Basin,was created in 1990 to protect the forests adjacent to the rivers Heath and Tambopata. It is home to two unique ecosystems and very rich in terms of biodiversity. (Image Wikimedia Commons)Recently released satellite images show that devastation from illegal gold mining activities in Peru is now reaching the Tambopata National Reserve, a...Read More

Greek gold miners prepare to fight Syriza

Jan. 18, 2016, 2:00 AM / Al Jazeera

Hundreds of Greek gold miners and technical staff are preparing to stage "powerful demonstrations" directed against the left-wing Syriza government, unions told Al Jazeera. Their employer, Canada's Eldorado Gold Corporation, announced last week that it will lay them off and utilize a key mine in northern Greece after years of government obstruction."We're not going to take this lying down," the m...Read More

This is what a mining, metals market meltdown looks like

Jan. 15, 2016, 5:06 PM / Frik Els

Glencore's Middelburg South Africa chrome smelter. Image: GlencoreA feeble attempt at a rally yesterday evaporated on Friday with the copper price hitting a fresh six-and-half year low of $1.9365 a pound ($4,270 a tonne) after falling nearly 2% in New York. Following a 26% decline in 2015, copper is already down 9% this year and worth less than half its peak as commodity investors choose to ignore...Read More

BHP takes largest-ever write-down on US shale operation

Jan. 15, 2016, 4:30 AM / Cecilia Jamasmie

BHP's Fayetteville Shale, Arkansas, USA. (Image courtesy of BHP Billiton)Mining giant BHP Billiton (ASX, NYSE:BHP), (LON:BLT) logged Friday its largest-ever write-down, a roughly US$7.2 billion pretax charge on its extensive US shale assets, as a persistent downturn in commodities continues to hurt the mining and energy sectors.The fresh disappointment from the company's $20 billion foray into the...Read More

EPA faces first lawsuit over Colorado mine spill

Jan. 15, 2016, 2:33 AM / Cecilia Jamasmie

Gold King Mine discharge. (Image from archives)The state of New Mexico plans to sue the US Environmental Protection Agency (EPA) over last year's toxic Colorado mining spill that sent 3 million gallons of waste into the Animas and San Juan rivers.In a notice of intent to sue filed by the state Thursday, officials claim the EPA is to blame for the the consequences of the blowout at the abandoned...Read More

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