Reuters reported that while copper miners may indeed cut output in 2016, any cuts likely won’t be enough to balance out weak prospects for Chinese demand growth.

Don’t miss the latest news on the copper price and copper prices. Check out our Brief Overview of the Copper Price Today.
Reuters reported that while copper miners may indeed cut output in 2016, any cuts likely won’t be enough to balance out weak prospects for Chinese demand growth.
That’s bad news for miners — at the moment, Thomson Reuters GFMS believes that currently about 50 percent of mines are losing money on a total cost basis.
The news outlet states:

CRU expects copper prices to average around $4,600 a tonne this year.
“We do anticipate additional cutbacks of another 185,000 tonnes this year … It’s a significant number that will help to balance the market, but a lot of loss-making mine capacity remains in operation.”
Any cuts will go some way towards offsetting new capacity of almost 1 million tonnes from mine projects expected to start up in the next year or so.
But they are unlikely to be large enough to balance the copper market, which according to a Reuters survey is expected to show a surplus this year of 150,000 tonnes.
The forecast for the average copper price this year at $4,858 a tonne is the lowest since the average of $3,600 in 2005 when the commodities super-cycle was starting, fuelled by China’s industrialisation and urbanisation.

Click here to read the full Reuters report.

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Trilogy Metals Inc. is pleased to announce the second set of drilling results from the 2021 summer field season at the Arctic Project, part of the Upper Kobuk Mineral Projects located in northwestern Alaska managed by Ambler Metals LLC the joint venture operating company equally owned by Trilogy and South32 Limited . The 2021 Arctic drill program included 4,131 meters of diamond drilling, comprising 18 holes, that ...

Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is pleased to announce the second set of drilling results from the 2021 summer field season at the Arctic Project, part of the Upper Kobuk Mineral Projects ("UKMP") located in northwestern Alaska managed by Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally owned by Trilogy and South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) ("South32").

The 2021 Arctic drill program included 4,131 meters of diamond drilling, comprising 18 holes, that were designed to convert a portion of the resources from the Indicated category to the Measured category, and provide material for metallurgical testing and geotechnical information. The results contained in this news release are from the first two infill holes that were drilled early in the 2021 field season.

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Teck Resources Limited President and Chief Executive Officer Don Lindsay will be presenting at the Scotiabank Mining conference on Tuesday, November 30, 2021 at 10:30 a.m. Eastern7:30 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units. The fireside chat presentation will be webcast through the following link ...

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") President and Chief Executive Officer Don Lindsay will be presenting at the Scotiabank Mining conference on Tuesday, November 30, 2021 at 10:30 a.m. Eastern7:30 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company's business units.

The fireside chat presentation will be webcast through the following link at:
https://wsw.com/webcast/bns20/teck/1653795 .

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Hudbay Minerals Inc. is pleased to announce the appointment of Andre Lauzon as its Senior Vice President and Chief Operating Officer, effective January 4, 2022. He replaces Cashel Meagher, Senior Vice President and Chief Operating Officer, who has provided notice that he will be leaving the company to pursue other interests. Mr. Lauzon, who is currently the Vice President of Hudbay’s Arizona Business Unit, has ...

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) is pleased to announce the appointment of Andre Lauzon as its Senior Vice President and Chief Operating Officer, effective January 4, 2022. He replaces Cashel Meagher, Senior Vice President and Chief Operating Officer, who has provided notice that he will be leaving the company to pursue other interests. Mr. Lauzon, who is currently the Vice President of Hudbay's Arizona Business Unit, has been working closely with Mr. Meagher over the past several years on key growth projects in Manitoba and Arizona and his appointment ensures a seamless transition in accordance with the company's succession plan as Hudbay continues to pursue its growth objectives.

"Andre's appointment demonstrates the deep operational and technical bench strength at Hudbay. His promotion reflects both his readiness and his valued expertise and comes at an opportune time as our operations are embarking on a period of significant production and cash flow growth with the recent completion of our major brownfield investment programs. We look forward to having Andre play a key role in delivering our next stage of growth with our leading organic pipeline," said Peter Kukielski, President and Chief Executive Officer. "We are grateful for Cashel's contributions in various roles at Hudbay over the past 13 years, including his leadership in building our South America business, and we wish him well in his future endeavours. I look forward to continuing to work with our talented, effective and innovative operating and technical teams under Andre's leadership."

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