• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Base Metals Market
    Base Metals News
    Base Metals Stocks
    • Base Metals Market
    • Base Metals News
    • Base Metals Stocks

    Copper Jumps 10 Cents as Production Halts at Freeport’s Grasberg Mine

    Teresa Matich
    Mar. 20, 2015 11:53AM PST
    Base Metals Investing

    Bloomberg reported that Freeport McMoRan (NYSE:FCX) has halted production at its Grasberg mine in Indonesia as about 50 workers blocked road access to the mine. Copper was on the rise following the news, jumping roughly 10 cents to $2.75 on the news.

    Bloomberg reported that Freeport McMoRan (NYSE:FCX) has halted production at its Grasberg mine in Indonesia as about 50 workers blocked road access to the mine. Copper was on the rise following the news, jumping roughly 10 cents to $2.75 on the news.

    As Grasberg is one of the largest copper mines in the world, a stoppage of production certainly has the potential to affect copper prices.

    As quoted in the publication:

    About 50 workers blocked access to a road to the mine for the fourth straight day, and output was suspended starting Monday, while shipments from inventories continued. Freeport is the largest publicly traded copper producer.

    “Investors are keeping a nervous eye on a lingering work stoppage at Grasberg,” Edward Meir, an analyst at INTL FCStone in New York, said in a daily report. “Clearly, this is something the markets are watching.”

    On the Comex, copper futures for May delivery jumped 3.5 percent to settle at $2.66 a pound at 1:23 p.m. in New York, the biggest gain for a most-active contract since Feb. 3.

    Click here to read the full article.

    largest copper minescopper minesnyse:fcxcopper mines in the worldlargest copper mines in the world
    The Conversation (0)

    Go Deeper

    AI Powered

    Freeport Declares Quarterly Cash Dividends on Common Stock

    ASX:RIO

    Grasberg Ownership Question Grinds Over Horizon

    Latest News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×