Copper Stocks Articles

METALS-Copper eases for second day on doubts over China demand - Reuters

Tue, 26 Apr 2016 04:42AM / Reuters Editorial

* Copper loses more ground on China worries, market cautious* Rising inventories in Asia pressure copper prices (Adds comment, detail)By Naveen ThukralSINGAPORE, April 26 London copper slid for asecond session on Tuesday, easing further from last week'sfive-week peak amid doubts about demand in top user China andconcerns over rising Asian inventories.Three-month copper on the London Metal Exchange...Read More

Barrick Gold swings to quarterly loss, but trims debt further

Apr. 26, 2016, 4:40 AM / Cecilia Jamasmie

Canada's Barrick Gold (TSX, NYSE:ABX), the world's largest producer of the precious metal by output, swung to a loss in the first three months of the year, as asset sales impacted production and realized gold prices fell.The Toronto-based miner, however, reported quite a progress in terms of cutting its debt and reducing costs, trimmed debt by US$842 million since January. The figure puts Barrick...Read More

Eldorado Gold to sell Chinese mine for $300 million

Apr. 26, 2016, 2:42 AM / Cecilia Jamasmie

Canada's Eldorado Gold (TSX:ELD) (NYSE:EGO) has signed an agreement to sell its 82% stake in the Jinfeng mine in China to a wholly-owned subsidiary of China National Gold Group for US$300 million in cash.The Jinfeng mine is expected to generate 95,000-105,000 ounces of gold this year, as the operation transitions fully into the underground.The company's president and CEO Paul Wright said China Nat...Read More

Reservoir Minerals acquired by Nevsun Resources

Apr. 25, 2016, 4:04 PM / Emma Crawford Hampel - Business in Vancouver

Nevsun Resources Ltd. (TSX:NSU) has acquired Reservoir Minerals Inc. in a deal worth US$365 million, the companies announced April 24.The consolidation of the two Vancouver-based companies has created a 100% ownership in the upper zone of the Timok Copper Project in Serbia, which had previously been owned by Reservoir and Freeport McMoRan Inc. As well, the combined company will fully own the cash-...Read More

Stocks end lower as miners sink 3.6%, EDF tanks 11.1% - CNBC

Mon, 25 Apr 2016 03:09PM / Alexandra Gibbs, Arjun Kharpal, Holly Ellyatt

European stocks ended trade in the red on Monday, amid weak sentiment across the globe, as a sharp decline in mining stocks weighed on the wider benchmarks.Miners slumpSymbolNamePrice Change%ChangeVolumeFTSE---DAX---CAC---IBEX 35--- The pan-European STOXX 600 closed some 0.5 percent down provisionally, with most sectors closing in negative territory. London's FTSE 100 slipped some 0.8 percent, wh...Read More

Emerging trends in the mining industry

Apr. 25, 2016, 11:44 AM / Roy Bailey

World-class insights firm, Deloitte, recently released a report on the mining industry trends of 2016. In addition to highlighting the emerging trends, this report and other reports from leading organizations within the industry - such as the International Council on Mining & Metals (ICMM) - note some significant issues mining companies are facing. Leading issues include the volatility of the comm...Read More

Metals weaken as mood turns cautious, copper slips below $5000/t - FastMarkets Metal News

Mon, 25 Apr 2016 09:51AM / Ewa Manthey

Base metals were in negative territory on Monday morning on the LME, mostly consolidating after last week's rally. Investors were in a cautious mood ahead of key data releases and central bank meetings this week, traders said.Base metals surged to multi-week and multi-month highs last week but the rallies reflected interest from funds and CTAs and not a fundamental shift in markets, they added."Th...Read More

Barrick's fourth CFO in five years may be what shareholders were waiting for

Apr. 25, 2016, 9:15 AM / Cecilia Jamasmie

Canada's Barrick Gold (NYSE, TSX:ABX), the world's largest producer of the precious metal by output, may be announcing Tuesday a significant shift of business focus towards shareholder returns, as former fund manager and current business performance chief, Catherine Raw, assumes as the firm's new chief financial officer.Most shareholders hope that Catherine Raw persuades management to stop prizing...Read More

Freeport mulls selling minority stake in copper mine portfolio

Apr. 24, 2016, 2:58 PM / Globe and Mail

Freeport McMoRan Inc. is considering selling a minority stake in its portfolio of copper mines, sources familiar with the matter said, one of the options on the table as the company scrambles to slash its $20-billion (U.S.) debt load.Continue reading at The Globe and Mail Image of Freeport McMoRan's Grasberg mine in Indonesia, viewed from space. Courtesy of NASA via Wikimedia Commons.Read More

CAT chairman pours cold water on mining rally

Apr. 22, 2016, 12:45 PM / Frik Els

With sales and operations at the ends of the earth, few companies are in a better position to take the pulse of the global economy and the resource sector in particular than Caterpillar.The world's number one heavy equipment manufacturer has been hit hard by the decline in mining and construction - sales are down more than $20 billion from its 2012 peak.On Friday the Peoria, Illinois-based giant h...Read More

Chart: The march of the zombie miners continues

Apr. 22, 2016, 12:17 PM / Visual Capitalist

NEW REPORT SHOWS THAT OVER HALF (52%) OF ALL CANADIAN-LISTED MINING COMPANIES ARE ZOMBIESThe Chart of the Week is a weekly Visual Capitalist feature on Fridays.Canada has a reputation worldwide as the epicenter for mining exploration, and over the years the country's junior-listed companies have created billions of dollars in wealth through new mineral discoveries.However, these days, Canada is ho...Read More

X2 said to miss out on Anglo's Brazilian mines

Apr. 22, 2016, 11:47 AM / Frik Els

US-based Mosaic Co, the world's top producer of phosphate fertilizer, Switzerland's Eurochem and iron ore and nickel giant Vale SA together with private equity firm Apollo Global have been picked to make final bids for Anglo American's niobium and phosphate business in Brazil reports Bloomberg.The Brazilian operations could fetch as much as $1.5 billion according to the report. BHP Billiton spin-o...Read More

Miners spending again: $50 billion capex in five months

Apr. 21, 2016, 6:12 PM / Frik Els

SNL Metals & Mining tallied the value of planned capital spending announced by mining companies in November.The industry research firm based in Charlottesville, Virginia did the same thing again April 7.Outlays on new mines, sustaining capital, expansions and projects like mine life extensions had surged by nearly $50 billion to $108 billion over the duration of just five months.Of course, some of...Read More

Anglo shareholders revolt against Cutifani's $4.9 million pay

Apr. 21, 2016, 10:05 AM / Cecilia Jamasmie

Anglo American (LON:AAL) shareholders have rejected the miner's pay policies in the last of several objections to hefty rewards for UK executives.A trio of investor advisory groups had urged Anglo's investors to reject chief executive Mark Cutifani's pay at the annual meeting Thursday. Anglo's boss was awarded a $4.9 million ( 3.4m) pay package last year, when the firm was among UK's worst-perform...Read More

Newmont Mining investigating bribery allegations

Apr. 21, 2016, 5:39 AM / Cecilia Jamasmie

Newmont Mining Corp's (NYSE:NEM), the world's 2nd largest gold miner, is reviewing its compliance with US foreign bribery law.Reporting its first-quarter earnings, the Colorado-based company said it had engaged outside counsel as part of a review of its compliance with the Foreign Corrupt Practices Act, which bars the use of bribes to foreign officials.The gold and copper miner didn't specified wh...Read More

Sibanye to invest $250 million in its gold mines, keeps shopping for new assets

Apr. 20, 2016, 8:50 AM / Cecilia Jamasmie

Sibanye Gold (JSE:SGL) (NYSE:SBGL), the biggest producer of the precious metal in South Africa, said Wednesday it plans to spend $250 million (R3.9 billion) this year boosting infrastructure at most of its assets.Speaking at the European Gold Forum in Zurich, CEO Neal Froneman said the firm will allocate $115 million (R1.6 billion) underground projects at the Kloof and Driefontein gold mines on th...Read More

Myanmar Wanbao: A new dawn for the Chinese copper miner

Apr. 20, 2016, 12:10 AM / Editor

As Myanmar makes history by electing its first civilian president Htin Kyaw, after 50 years of military rule, we examine a story that helped shape Myanmar's relationship with its neighbours and the world. "A New Dawn" is an unprecedented film that comes at a historic time in Myanmar's history.Myanmar Wanbao was forced to stop construction in 2012 due to local opposition to the copper project. Thi...Read More

Top Stocks of the day: Southern Copper Corp. (NYSE:SCCO) - The News Journal

Tue, 19 Apr 2016 06:47PM / James Banner

Amid the topmost stocks in today's market is Southern Copper Corp. (NYSE:SCCO). Southern Copper Corp. had a market cap of 21691.43, indicating that it has a good hold on the market value of the shares outstanding. The current market cap of Southern Copper Corp. exhibits the basic determinant of asset allocation and risk-return parameters for its stocks.The P/E of Southern Copper Corp. is currently...Read More

Delays in rollout of autonomous technology forces Rio Tinto to cut iron ore guidance

Apr. 19, 2016, 2:33 AM / Cecilia Jamasmie

A delay in the rollout of Rio Tinto's (LON, ASX:RIO) much-anticipated autonomous railway system has forced the miner to cut its iron ore production guidance for 2017 by as much as 20 million tonnes.Delivering its first quarter results Tuesday, the world's No. 2 iron ore producer said that despite the holdup it remains on track to meet output target for this year, which is expected to hit a record...Read More

PE opportunities switching to base metals

18 Apr 2016 10:34 / Mining Journal

As a result, the need to complete deals in order to secure much needed funds has become less urgent.Isser Elishis, chief investment officer of North America's Waterton Global Resource Management told Bloomberg the best investment opportunities are currently in base metals and that he expects to do half-a-dozen transactions in this space this year.The copper price is up a less impressive 3.5% this...Read More

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