Copper Stocks Articles

The story of the great mining project that wasn't so

Feb. 16, 2016, 9:58 AM / EduMine

You've heard the story before. The one about that promising mine project that was supposed to become the investment of the decade, or a prime producing mine. But it wasn't.Several projects end up disappointing hopeful investors not only due to community opposition or legal hurdles, but because they were not properly evaluated by the so-called experts.Project evaluation experts require an understan...Read More

Indonesia to ease mineral export ban from 2017

Feb. 16, 2016, 6:01 AM / Cecilia Jamasmie

The government of Indonesia will relax next year its ban on partially processed minerals exports, including copper, nickel, zinc and bauxite ore order to prop up its economy.According to the country's mining minister Sudirman Said, the review of the metal exports rule is part of a wider revision of the 2009 mining law that led to the export edicts and other regulations, Reuters reports.Indonesia i...Read More

These are the assets Anglo American is kicking to the curb

Feb. 16, 2016, 2:43 AM / Cecilia Jamasmie

Anglo American's overhaul reflects the dire straits the global mining industry is in these days. (Image: Screenshot from Anglo American video via YouTube)After weeks of speculation, battered mining giant Anglo American (LON:AAL) has finally revealed details of its radical "portfolio restructuring,"announced in December, in response to a global rout in commodity prices that punished the costly mine...Read More

Anglo American debt down to junk, outlook negative

Feb. 15, 2016, 12:22 PM / Frik Els

Ratings agency Moody's on Monday downgraded Anglo American's credit rating to below investment grade, saying the world's fifth largest diversified miner "now faces a higher business risk due to deterioration in commodities market conditions and a longer and more uncertain deleveraging period than previously expected."After the downgrade to junk status Moody's also maintains a negative outlook on t...Read More

Newcrest Mining's profit US$117 lower due to Cadia outage, lower copper and gold prices

Feb. 15, 2016, 10:50 AM / Michael Allan McCrae

Newcrest Mining rung in US$81 million profit in its half year financial result update, US$117 million lower than the corresponding prior period.The company says it was adversely impacted primarily by lower realised US dollar gold and copper prices and lower copper sales volumes. There was also an extended production outage atCadia following the failure of the main SAG mill motor also adversely imp...Read More

Freeport-McMoRan sells 13 pct stake in Morenci Mine to Sumitomo for $1 billion

Feb. 15, 2016, 7:59 AM / Editor

Freeport-McMoRan (NYSE:FCX) is selling a 13 percent ownership interest in its Morenci Mine to Sumitomo Metal Mining Co., Ltd. (SMM) for $1.0 billion in cash.Morenci is an open-pit, copper mine located in Arizona.The Morenci unincorporated joint venture is currently owned 85 percent by FCX and 15 percent by Sumitomo Metal Mining Arizona Inc. (SMMAz is owned 80 percent by SMM and 20 percent by Sumit...Read More

Taseko files lawsuit against Ottawa over B.C. gold and copper mine decision

Feb. 14, 2016, 2:06 PM / Times Colonist

Taseko Mines Ltd. (TSX: TKO) is suing the federal government in B.C. Supreme Court and seeking unspecified compensation for a 2014 decision that blocked development of a proposed $1.5 billion gold and copper deposit.The Vancouver-based company claims that the government and its agents - including the environment minister at the time - failed to meet their legal duties to Taseko when they blocked t...Read More

Rio told to start buying copper mines rather than build them

Feb. 12, 2016, 10:20 AM / Bloomberg

Rio Tinto Group should focus on buying floundering rivals to secure copper mines instead of building new ones, according to Sanford C. Bernstein Ltd."The decision should be a no-brainer," Paul Gait, an analyst at Bernstein in London, said in a note Friday. "Building a new ton of supply costs significantly more than buying an existing one."Rio said Thursday it plans to cut its dividend by as much a...Read More

Argentina's new government scraps mining taxes

Feb. 12, 2016, 10:05 AM / Cecilia Jamasmie

Miners struggling to cut costs amid plunging metal prices just got some help from Argentine President Mauricio Macri, as he announced the government has revoked a 5% tax imposed by the previous administration on mining and energy companies.Macri, who took office in December on a platform of repealing government intervention that scared investors away, unveiled the measure during a visit to the min...Read More

Pummeled by oil bets, Freeport and Teck get some crude reward

Feb. 12, 2016, 10:01 AM / Bloomberg

Teck Resources Ltd. and Freeport-McMoRan Inc. led a mining stock rally on Friday as surging oil prices provided relief for their foray into energy before prices tumbled.Shares in Freeport surged 13 percent to $5.52 at 1:34 p.m. in New York, while Teck, Canada's biggest diversified miner, jumped 20 percent to C$6.19 in Toronto. They were the best performers in the Bloomberg Americas Mining Index.Fr...Read More

Teck Resources logs $536M loss in Q4 on depressed commodities, asset charge

Feb. 11, 2016, 7:15 AM / Cecilia Jamasmie

Teck Resources (TSX:TCK.B, TCK.A)(NYSE:TCK), Canada's largest diversified miner, logged Thursday a loss of $459 million in its fourth quarter, hurt by an ongoing rout in commodity prices and an asset impairment charge of $384 million (Cdn$536 million).The Vancouver-based company, North America's largest producer of steel-making coal, was hit extremely hard by a plunge in that and other commodities...Read More

Rio Tinto swings to loss, blames metal prices slump

Feb. 11, 2016, 1:48 AM / Cecilia Jamasmie

Mining giant Rio Tinto (LON, ASX, NYSE:RIO) reported Thursday a loss for 2015 after metal prices, particularly iron ore and copper plummeted last year and are still trading at historical lows.The world's second biggest mining company, which posted a loss of $866 million, has also abandoned its promise to maintain or steadily increase its dividend annually each year. Rio said it could no longer jus...Read More

EPA says Colorado mine spill dumped 880,000 pounds of metals into river

Feb. 10, 2016, 6:14 AM / Cecilia Jamasmie

A 3 million-gallon spill from the abandoned Gold King Mine in Colorado last year is likely to have deposited more than 880,000 pounds of metals into the Animas River, the U.S. Environmental Protection Agency (EPA) said.According to the agency's preliminary report, some of the metals reached the San Juan River, which the Animas joins in New Mexico, but most settled into the Animas riverbed before t...Read More

Congo gives up plans to change mining code

Feb. 10, 2016, 2:46 AM / Cecilia Jamasmie

The Democratic Republic of Congo has decided not to change its mining code as the move could have driven away investors at a time of historically low commodity prices and energy shortages that are driving down output in the country.Copper production in DRC, Africa's biggest producer of the red metal, fell by 3% to 995,805 metric tons in 2015, the first drop in six years, the Chamber of Mines said...Read More

Government throws lifeline to BC mines

Feb. 10, 2016, 12:23 AM / Business In Vancouver - Nelson Bennett

The B.C. government is throwing the mining industry an emergency lifeline in the form of deferred electricity bill payments that could be worth more than $300 million.Several metallurgical coal mines have closed in B.C. in the last couple of years, due to a prolonged commodity price plunge, and B.C.'s biggest mining company, Teck Resources (TSX:TCK.B) has taken to rotating shutdowns at those that...Read More

Imperial Metals to shut its Huckleberry copper mine in BC

Feb. 9, 2016, 12:30 AM / Business In Vancouver - Nelson Bennett

A lifeline being tossed to B.C. mines may not be enough to prevent the closure of the Huckleberry open-pit copper mine near Houston, B.C.Imperial Metals (TSX:III) has put employees at its Huckleberry mine on notice that the mine will shut down in August.The announcement follows on an earlier announcement in January that the open-pit mine would reduce its 260-person workforce by 100.Imperial said t...Read More

INFOGRAPHIC: Investing in the rise of the new spending class

Feb. 9, 2016, 12:12 AM / Visual Capitalist

Courtesy of: Visual CapitalistIt's no secret that the world has been a little down on China.The world's most populous country has been the primary engine of economic growth for decades, but recently investor optimism around China has diminished significantly. With a sliding manufacturing sector and lower GDP growth, most mainstream pundits have shifted focus to whether the country will have a "sof...Read More

Leakage at Anglo American's Los Bronces mine forces firm to halt grinding

Feb. 8, 2016, 10:50 AM / Cecilia Jamasmie

Grinding at Anglo American's (LON:AAL) Los Bronces copper mine in Chile has been halted after the firm detected a leak in a pipe carrying ground ore mixed with water on Sunday evening.According to local newspaper La Tercera (in Spanish), the discharge was noticed on farmland outside the capital Santiago during a routine inspection of the pipe, which connects Anglo's flagship mine with the Las Tort...Read More

It's time to buy mining stocks, says Ross Beaty

Feb. 7, 2016, 12:40 PM / The Northern Miner

Mining financier and entrepreneur Ross Beaty told an audience at the Vancouver Resource Investment Conference in late January that it's a "phenomenal" time to buy resource stocks."The tide is way out and it's a buyer's market everywhere across the board from oil, mining, currencies, and real estate," Beaty said. "Every so often cycles get to the point where they're at today and it's just hard to l...Read More

Government throws lifeline to B.C. mines

Feb. 7, 2016, 12:17 PM / Business in Vancouver

The B.C. government is throwing the mining industry an emergency lifeline in the form of deferred electricity bill payments that could be worth more than $300 million.Several metallurgical coal mines have closed in B.C. in the last couple of years, due to a prolonged commodity price plunge, and B.C.'s biggest mining company, Teck Resources (TSX:TCK.B) has taken to rotating shutdowns at those that...Read More

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