Chinese driving copper demand: ICSG
The following is a summary of the International Copper Study Group’s (ICSG) December 2014 Copper Bulletin. For more information and to buy the bulletin, visit www.icsg.org.
Copper
Barrick to shutter Lumwana as Zambian gov’t hikes royalty
Barrick Gold (TSX: ABX; NYSE: ABX) will soon suspend operations at its Lumwana copper mine in Zambia in response to the Zambian government’s move to more than triple the royalty rate on open-pit mines, starting in 2015.
Asian Mineral capitalizes on first-mover status in Vietnam
VANCOUVER — It’s been a long journey for Asian Mineral Resources (TSXV: ASN; US-OTC: AIERF) at its Ban Phuc nickel-sulphide project, 160 km west of Hanoi in Vietnam’s Son La province, but the company’s patience is about…
Aurcana improves operations at La Negra
VANCOUVER — It’s all about boosting near-term liquidity for silver producer Aurcana (TSXV: AUN; US-OTC: AUNFF) as it grapples with a high debt load and falling metal prices. On Dec. 1 the company released its…
Yamana recruits former Augusta execs to head Brio Gold
Looking to wring more value out of its non-core assets in Brazil, Yamana Gold (TSX: YRI; NYSE: AUY) is creating a 100%-owned subsidiary named Brio Gold.
TSX continues decline, Dec. 8-12
Canada’s benchmark index fell during the trading week as investors fretted over plunging oil prices and weaker-than-expected economic data from China. The S&P/TSX Composite Index lost 742.65 points, or 5%, to end at 13,731.05. The…
Vale may sell part of its base metals division
After paying almost US$20 billion for Inco in 2006, Vale (NYSE: VALE) says it may sell part of its base metals division to unlock value.
Freeport-McMoRan rejigs property portfolio as oil prices sink
VANCOUVER — It’s been a year of change for miner Freeport-McMoRan (NYSE: FCX) that has included a portfolio shuffle and renewed focus on a strong balance sheet and dividends. The company remains a big player in the…
Wood Mac sees stronger prices for copper, nickel, zinc
Falling energy and metal prices are leaving many investors in the mining space anxious about what lies in store next year. Julian Kettle, head of metals and mining research at Wood Mackenzie in London, recently took time to speak to The…
Scotiabank’s Patricia Mohr looks ahead to 2015
Patricia Mohr, vice-president of economics and commodity market specialist at Scotiabank in Toronto, will release her metal price forecasts for 2015 in her annual year-end report at the end of December. But she agreed to share some of her…
Eastmain teams with Darnley Bay at Lac Lessard
Last year Eastmain Resources (TSX: ER; US-OTC: EANRF) surveyed its wholly owned Lac Lessard property in the James Bay region of northern Quebec using a combined airborne magnetic and electromagnetic VTEM system that identified 10 highly…
Lundin hits commercial production at Eagle
Lundin Mining (TSX: LUN; US-OTC: LUNMF) now has another commercial mine in its growing roster of operations.