Strikes at major mines continue to impact the copper market, but this week US President Donald Trump is playing a role as well.
Supply concerns bumped the red metal’s price up 2 percent on Wednesday.
NOVAGOLD RESOURCES INC. (TSX:NG) (NYSE MKT:NG) today released its year-end 2016 financial results and provided updates for its flagship 50%-owned Donlin Gold project in Alaska and its 50%-owned Galore Creek copper-gold-silver project in British Columbia.
Details of the financial results for the year ended November 30, 2016 are presented in the
BHP Billiton (NYSE:BHP) has approved a US$200 expansion at its Escondida copper mine in Chile, SME net reported. Escondida is the largest copper mine in the world.
As quoted in the publication:
The Australian reported that BHP Billiton will overhaul its Los Colorados concentrator which will allow the company to capture 100
Investors are waiting for Friday’s US jobs report. If it is negative, rate hike concerns may be alleviated.
The copper price may still be down, but that hasn’t stopped a bit of action from taking place in the junior copper space. Prospect generator Avrupa Minerals has signed an option agreement for its Alvito project in Portugal with Lowell Copper.
Roughly four months after Barrick Gold halted operations at its Lumwana mine in Zambia due to higher royalties in the country, the government is set to change its decision on the royalty hike. Zambia’s cabinet has approved a proposal to drop the rate increase, according to a report from Bloomberg.
On Monday, workers at Peru’s Antamina copper mine downed tools, beginning the first indefinite strike in the mine’s history. Operations have been partially affected at the mine, and as the largest copper mine in Peru, it’s unclear whether the disruption will help boost copper prices.
The red metal rebounded from a three-month low today after the release of positive manufacturing data from China, but finished flat overall. Copper futures for delivery in three months on the London Metal Exchange lost 0.1 percent and finished at $6,720 per tonne, while futures on the New York COMEX
Midnight Sun Mining Corp. (TSXV:MMA) released results from its core drilling program that was recently completed on the Solwezi copper property in northwest Zambia. The program was undertaken during April and May of 2014 and consisted of 739 metres HQ core drilled in 12 holes, and targeted an area of
By Vivien Diniz
USA Today reported that Resolution Copper is planning to submit its plan to the federal government detailing how it would run the largest copper mine in North America, which is located in Superior, Arizona.
Commodities continued to perform well this week after Federal Reserve Chairman Ben Bernanke assured investors that the central bank will not be dampening its quantitative easing too soon.