Porphyry copper deposits are among the world’s most valuable deposits. Here’s what investors should know about them.
SANTIAGO, CHILE–(Marketwired – April 6, 2016) – Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX:IVN), announced today that Ivanhoe and its joint-venture partner Zijin Mining are preparing to accelerate a planned infill drilling program on the Kakula Discovery area at their Kamoa copper project, in the Democratic Republic of Congo
Copper investors were likely pleasantly surprised looking at price charts at the end of this week. After plummeting near the start of the year and sitting around $2.60 per pound for the past month, the metal’s price appear to be heading up.
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.
Franco-Nevada, Nevsun Resources and Agnico-Eagle Mines were among the companies mentioned by analysts last week as having significant upside.
McEwen Mining Inc. (TSX:MUX,NYSE:MUX) announced the results of an updated preliminary economic assessment (PEA) for its Argentina-based Los Azules copper project, commenting that the results show that the project has the potential to become one of the world’s biggest and lowest-cost copper mines.
By Vivien Diniz
Last month’s landslide at Utah’s Bingham Canyon, one of the world’s largest copper mines, triggered significant discussion on possible copper shortages. Brent Cook, veteran geologist and publisher of Exploration Insights, puts the landslide into perspective in this interview with The Metals Report. And for investors who want to dig out
Expectations of higher energy prices, amid escalating geopolitical tensions and more strong US economic data, are driving up commodities prices.
More signs of economic strength in the United States are buoying demand for copper worldwide. Still, downside risks remain, including a rise in energy costs pushing down demand.