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Copper News Digest
Thursday 18 January 2018
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The World Bank-supported mining legislation was introduced to attract foreing investment into copper and cobalt projects. Gécamines claims country has not benefited from it.

Only the Nevada operations of the Toronto-based gold mining giant increased output in 2017.

Rio Tinto-controlled Turquoise Hill said the bill relates to an audit on taxes imposed and paid by the mine operator between 2013 and 2015.

Rampant violence and corruption are the norm in the mines of the southern Guayana region.

An earthquake in Peru on Sunday has claimed two lives and caused an illegal mine to collapse. 

“From the macro point of view, this is not an environment where you’d want to be shorting metals.”

Indonesia state-owned holding Asahan Aluminum, or Inalum, would grab a 41.64% stake in the local unit of Freeport, which increases its current ownership in it to 51%.

The good luck for BHP is that only about 40 to 45 percent of existing nickel mine supply is suitable for processing into a battery-grade chemical product.

The company is looking in Canada, the world's No. 3 cobalt producer.

The nation, responsible for about two thirds of global output, plans to increase tax on cobalt to 5% from 2%.

The Bougainville government has imposed an indefinite moratorium on mining at the controversial Panguna site — once the world's biggest open-pit copper mine.

The Egypt-focused gold miner also expects solid growth this year. It’s targeting 580,000 ounces in production, up from an estimate of 550,000-560,000 ounces.

Codelco will invest $250 million to modify the shape of the current pit.

The miner’s local subsidiary has entered into an agreement to acquire mining properties in southern Peru near its Constancia copper mine.

Brazilian mining giant is retaining control of the TIPLAM port terminal, which was originally included in the deal.

The approval of the supreme decree 042-2017 in December might generate more unrest.

The U.S. Army Corps of Engineers has accepted Pebble Limited Partnership’s wetlands-fill permit.

The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.

Breakthrough discovery backed by the US government replaces cobalt with iron in lithium-ion batteries – enabling much cheaper, longer lasting batteries.

Beijing's clampdown on heavy industry continues to have positive impacts for miners outside the country.

Chinese supply-side reforms, environmental cuts translate into higher prices and less Chinese production, "both of which benefit ex-China producers."

And 12.3m contained ounces of gold.

Markets where technology hasn’t substantially shortened the supply cycle and where cost are rising (ie copper) have the greatest long-term upside in prices

For the second year in a row, people are being bullish on silver.

Some of Europe's richest deposits of valuable materials are in the trash, ranging from gold in smartphones to cobalt in electric car batteries.

Cochilco, Chile's state copper commission, raised its estimated 2018 avg price for the metal to $3.06 per pound from its previous forecast of $2.95.

Copper dropped 2.2 percent to $7,054.50 at 3:21 p.m. on the London Metal Exchange Tuesday. A close at that price would mark the biggest drop since Dec. 5.

Following the 2016 launching of the Collective Action Initiative for the Metals Technology Industry, the program announced today that it has added a new member.

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