Copper Top Stories

Teck’s Quebrada Blanca copper mine fined for environmental violations

Chile's SMA environmental regulator said it had fined Quebrada Blanca…

Forum looking to fund exploration program in Saskatchewan

The Vancouver company is seeking to raise $75,000 for geological…

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KGHM announces almost doubling in Q4 profits

The Polish miners beat market expectations announcing a strong fourth quarter on the back of surging metal prices and said it expects to see 2011 net profit jump to a record 8.35bn zlotys Poland's KGHM (KGHM.WA: Quote) almost doubled its fourth-quarter

Increasing deficit will make copper the new gold in 2011

Copper is the most talked about commodity this year. Copper's price and supply-demand characteristics are widely assumed to reflect the health of the world industrial economy, hence it is considered as excellent barometer to understand global economy's health.

Equinox Minerals to launch hostile bid for Lundin Mining

Equinox Minerals Ltd. will make a hostile bid for Lundin Mining prior to the markets opening Monday morning, Vancouver-based Lundin announced in a news release on Sunday. "Lundin is not aware of the terms of the bid. Until Lundin Mining completes its review of the bid, it will not comment on the proposal," the release stated. "The Board of Directors of Lundin will update shareholders from time to time following receipt and consideration of the bid. Shareholders do not need to take any action in response to the bid at this time." The unsolicited takeover attempt could thwart the proposed merger between Lundin and Inmet Mining Corp. made public in January.

Mining ban review underway in Phillipine province

The company behind a large copper-gold mining project in the Phillipine province of South Cotabato is cautiously optimistic that a mining ban imposed last year will be overturned. GMA News reports: A large-scale mining company on Sunday expressed optimism that the South Cotabato provincial government will lift its ban on open-pit mining and allow the $5.2-billion Tampakan copper-gold project to proceed by 2012. Sagittarius Mines, Inc. (SMI) made the statement as its petition to withdraw the ban – which former South Cotabato governor Daisy Fuentes imposed last year – has moved up to the provincial council’s final review. The current governor of South Cotabato, Arthur Pingoy, told Reuters last week that a review of the ban is possible, but with a slim chance it would be overturned.

Northern Dynasty’s Pebble project receives a positive preliminary assessment

Northern Dynasty said on Wednesday that Wardrop completed a positive preliminary assessment report for the Pebble copper-gold-molybdenum project in Southwestern Alaska. "For the Pebble Project, the 45-year Reference Case yields a 14.2% pre-tax IRR, a 6.2-year payback on initial capital investment of $4.7 billion and a $6.1 billion pre-tax NPV at a 7% discount rate and long-term metal prices. At current prevailing metal prices, the 45-year Reference Case yields a 23.2% pre-tax IRR, a 3.2-year payback on initial capital investment and a $15.7 billion pre-tax NPV at a 7% discount rate."