Copper Mining News and Commentary

Copper ETFs: The horror! The horror!

Frik Els | May 23, 2012

A letter from US wire manufacturers to the SEC states this type of investment vehicle in copper would “grossly and artificially inflate prices” and “wreak havoc on the US and global economy”.

GoldQuest reports drilling results from the Dominican Republic hole LTP 90: 231 metres grading 2.4 g/t gold including 160.3 metres grading 2.9 g/t gold and 0.62% copper

Marketwire - Mining and Metals | May 23, 2012

GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) is pleased to announce results from a 15 hole drill program at its 100-percent-owned Las Tres Palmas project, summarized in this release's Table 1.
Sama Resources closes private placement of Can$4,402,394.40

Marketwire - Mining and Metals | May 23, 2012

The shares were issued at a price of CAN$0.60 per share.
Rio Tinto confirms support for Ivanhoe Mines comprehensive financing package and agrees to amend certain terms of memorandum of agreement

CNW Telbec | Mining/Metals | May 23, 2012

Rio Tinto and Ivanhoe Mines Ltd. (Ivanhoe) have agreed to amend certain terms of the memorandum of agreement announced on 18 April 2012, under which Rio Tinto has agreed to support and provide certain elements of a comprehensive funding package for Ivanhoe
Anglo and Codelco restart talks to end dispute

Cecilia Jamasmie | May 23, 2012

The frantic legal battle between diversified miner Anglo American (LON:ALL) and its Chilean adversary Codelco, the world’s largest copper producer, was put on hold as the parties announced they were entering into talks.
NGEx announces Josemaria drill results including 172 metres at 1.57% copper equivalent

Marketwire - Mining and Metals | May 23, 2012

VANCOUVER, BRITISH COLUMBIA–(Marketwire – May 23, 2012) – NGEx Resources Inc. (TSX:NGQ) ("NGEx" or the "Company") is pleased to announce additional assay results from the 2011/2012 infill drilling campaign at the Josemaria copper-gold por…
Olympic Dam Taskforce CEO to doubters: We're planning 10,000-strong village, already building airstrip for 737s

Frik Els | May 22, 2012

The copper-uranium-gold-silver project has a 100 year mining life, so a glitch this year was unlikely to sway a company that thinks well ahead, the CEO of the Olympic Dam Taskforce said Tuesday.
Xstrata relies on China to lift copper demand

Cecilia Jamasmie | May 22, 2012

Copper demand in China, the world's main consumer of the red metal, is expected to rebound in the second half of 2012, despite the uncertain outlook for Europe, the head of Xstrata PLC's copper division said.
Copper off to the races after Wen comments

Frik Els | May 21, 2012

Copper saw a strong start to the trading week adding 1.8% following pro-growth comments by the Chinese premier Wen Jiabao over the weekend.
Iran to become world's 7th copper producer

Moj News Agency | May 20, 2012

A senior Iranian official says the country is set to improve its global ranking in the copper production industry to the world's 7th in the current Iranian year (started March 20).
Hudbay Discontinues Planned Offering of US$400,000,000 Senior Unsecured Notes

Marketwire | May 19, 2012

HudBay Minerals Inc. ("Hudbay") (TSX:HBM)(NYSE:HBM) today announced that due to market conditions it is discontinuing the planned offering of US$400 million senior unsecured notes due 2020, which it had previously announced on May 14, 2012.
Junior resource investment in a financial meltdown – the Good, the Bad and the Ugly

Mineweb | May 19, 2012

Rick Rule's presentation at the New York Hard Assets Conference earlier this week sees some light for the informed junior resource investor despite current patterns which have mostly been Bad or Ugly!
Pebble Mine would damage water, fish habitat: EPA

Andrew Topf | May 18, 2012

A report released today by the US EPA does not paint a favourable picture of the proposed Pebble Mine in Alaska.
McEwen considers selling the Los Azules Project in Argentina

Cecilia Jamasmie | May 18, 2012

McEwen Mining (TSX and NYSE:MUX) President and CEO Rob McEwen on Thursday cautioned shareholders that recent energy-industry expropriation and Argentina government policy decrees augured negatively for its San José silver/gold mine and other development projects.
Inmet finances Cobre Panama under majority ownership

Canadian Mining Journal : Headline News | May 18, 2012

Toronto-based major Inmet Mining has opted to retain its majority interest in the world-class Cobre Panama copper-gold project through development financing, as the company announced a hybrid plan that would see it shoulder the bulk of a US$6.2 billion capital expenditure (capex) requirement aimed at putting the project into production by 2016.
Mongolia legislates caps on foreign investment

MINING.com Editor | May 17, 2012

Mongolia is capping foreign investment in certain industries, including mining, in an attempt to keep profits inside the mineral-rich nation's borders.
Small BHP joint venture loses silver lining

WA Today | May 17, 2012

BHP Billiton has quit a small joint venture to define the Altia copper and silver prospect in Queensland, just a day after the company's chairman and its chief executive warned it would scale back on spending.
Expat execs in Africa: Without 'danger pay' how does the money stack up now?

Frik Els | May 17, 2012

Africa's economic indicators are all pointing up, but executive pay packages and living arrangements for expatriates are changing too.
Russian billionaire Prokhorov files for copper-nickel Toronto IPO

Mining Weekly | May 17, 2012

Move over Mark Zuckerberg. Russia’s Mikhail Prokhorov, who Forbes ranks as the 58th richest person globally, has filed a prospectus to list his Intergeo MMC in Toronto, announcing it the day before Facebook goes public.
Xstrata $60 billion Philippine mine may stall at church door

Bloomberg | May 16, 2012

Xstrata Plc (XTA), the world’s fourth- biggest copper producer, risks missing a 2016 target to begin extracting about $60 billion of minerals from its project in the Philippines because of opposition from the Catholic Church.
Finnish mining boom prompts regulation backlash on polluters

Bloomberg | May 16, 2012

Finland’s mining companies stand to face tougher rules as environmental damage prompts regulators to check the Nordic nation’s mining boom.
BC mining industry earned extra $2 billion in 2011 on strength of coal, silver

Andrew Topf | May 16, 2012

The mining industry in British Columbia produced some healthy numbers in 2011, buoyed by high commodity prices and continued growth in mineral exploration, according to PwC’s annual BC Mining Survey.
Falling off the supercycle: BHP puts the brakes on capex, stock hits 3-year low

Frik Els | May 16, 2012

“Where the industry previously lacked investment opportunities and choice, it now has more projects than cash flows. All of us in the industry are having to make choices.”
Latin American mining investment boom continues unabated

MINING.com Editor | May 16, 2012

Over the past decade, mining investment in Latin America has more than doubled, even after experiencing a sharp drop in 2009. According to a report by the Metals Economic Group, Latin America is now the primary destination for mining exploration investment in the world, with 25% of total investment going to Chile, Peru, Brazil, Colombia, Mexico and Argentina.
Copper price: Codelco says strong stomachs will be needed this year

Frik Els | May 15, 2012

Can it really be worse than last year, when the copper price dropped 26% in a single month?
Northern Dynasty confirms $107 million work program to prepare Pebble Project for permitting in 2012

CNW Group | May 15, 2012

Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (TSX: NDM; NYSE Amex: NAK) announces that the Board of Directors of Pebble Mines Corp., the general partner of the Pebble Limited Partnership (the "Pebble Partnership" or "PLP") has approved a budget of approximately US $107 million to advance the Pebble Project in 2012, with the objective of readying PLP to initiate permitting under the National Environmental Policy Act (NEPA) toward the end of the year.