Copper Top Stories

Chile’s Codelco says considering closure of coastal copper smelter

The Ventanas smelter has been the target of criticism from…

Workers at Teck Resources’ Chile mine to go on strike

The mine, located in central Chile about 350 kilometers north…

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Concentrator contract award for big new Russian copper project

Outotec has been awarded another concentrator contract with Russian Copper Co. for the Miheevsky project with throughput of 18 million tonnes of ore a year. Finnish headquartered metallurgical specialist Outotec has signed a contract with ZAO Miheevsky Image from Outotec shows Kittilä gold mine, Finland.

Copper gains on dollar, China demand hopes

Copper hit its highest since mid-April on Tuesday as a weaker dollar and hopes Chinese demand will remain firm helped offset investor anxiety over US and European sovereign debt concerns. Three-month copper on the London Metal Exchange (LME) traded at $9,800.25 a tonne by 0825 GMT compared with Monday's close of $9,694 a tonne.

OZ Minerals in $200m buyback

Copper and gold miner OZ Minerals will return up to $200 million to shareholders through an on-market buyback, as booming prices for its products continue to generate cash. Photo of copper concentrates being loaded, by OZ Minerals.

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Carpathian Gold announces $20 million strategic placement by Barrick Gold Corporation

Carpathian Gold announced that it has concluded an agreement with Barrick Gold Corporation for a CDN$20 Million private placement to purchase 38,461,538 common shares (the "Private Placement" and the "Common Shares") of the Corporation at a price of $0.52 per share. The Common Shares will be subject to a four-month hold period. The proceeds from the Private Placement will be exclusively applied to the Corporation's ongoing exploration and development work on its wholly owned Rovina Valley Project ("RVP") situated in west-central Romania.

Green jobs may be replacing aluminum with ‘urban mining’

An electronics recycling company in Badin, Washington was talking Saturday to applicants for jobs at a facility that could employ as many as 200 people. A building that once was part of Alcoa's aluminum smelting operation is being upgraded to house an outpost of Electronic Recyclers International, said company president John Shegerian. "We use manual labor to take the screens out of the machines, and then start segregating the material," Shegerian said. "Then the carcasses all go into the shredding machine." He said the materials are then sold to manufacturers, which use the plastic, aluminum and copper to make new products. The only thing left to dispose of is a little dust. It's a process Shegerian calls "urban mining."

Indonesian workers end strike at biggest gold mine

Thousands of workers at one of the world’s biggest gold and copper mines started returning to work Wednesday, ending a nearly two-week strike that brought operations to a standstill. Union chief Sudiro, who goes by only one name, said the decision was made after Freeport-McMoRan’s management agreed to reinstate six fired labor leaders and reopen negotiations about wages and benefits on July 20.

Japan Times: China raises spectre of undersea mining with world’s deepest diving submersible

The prospect of mining the ocean floor may seem far-fetched, but China, motivated by its insatiable hunger for resources, has opened its eyes to the idea. According to a story in The Japan Times, China will attempt to plunge the Jialong - the world's deepest-diving manned submersible - 5,000 metres below the surface of the Pacific Ocean between Hawaii and North America, exceeding the craft's previous depth of 3,759 metres.