Canadian Capstone Mining (TSX:CS) is attempting to hire back most of the workers it had to lay off in October at its Minto mine, Yukon’s only copper operation.
The Wall Street Journal recently explored the challenges faced by copper mining companies amidst a 7-year drought in Chile, the world’s number one copper producer.
Thomson Reuters GFMS predicts that the copper price will average $5,795 per tonne for 2015. However, the incentive price is anticipated to be much higher, at $7,073 per tonne.
Russia is a commodities giant, but supply isn’t the major issue—enrichment is. With a 44% global market share, Russia’s enrichment industry allows utilities around the world to squeeze more juice out of fewer lemons. In other words, Russian sanctions could mean utilities may have to use more natural uranium to
With Glencore International’s takeover of Xstrata still up in the air, Codelco, Freeport-McMoRan, and BHP Billiton continue to be the world’s top three copper producers. Producers expect copper prices to rise in coming months on expectations of a global economic rebound, and many will be increasing output.
Copper futures declined Tuesday morning, back-tracking from Monday’s gains as traders were skeptical over the state of the economic recovery. On the COMEX, March copper tumbled 2.3 percent, to $4.25 a pound. Copper ended up for a second consecutive day on Monday, as market sentiment focused on dwindling copper stockpiles.