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Copper, Discussion
blacksheep
post Posted: Apr 9 2019, 11:28 AM
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A Million Tons of Copper Is on the Way: It May Not Be Enough
By Laura Millan Lombrana and Jack Farchy
April 8, 2019, 9:00 AM GMT+10 Updated on April 9, 2019, 12:52 AM GMT+10
QUOTE
Analysts at industry event this week are in bullish spirits
CRU Group sees copper deficit at 270,000 metric tons by 2023

Giant mines currently under construction will churn out an additional 1 million tons of copper through 2023, but that won’t be enough to fully close an expected gap between supply and demand in the next few years.

Industry analysts and executives descending on Santiago this week for the Cesco conference, one of the industry’s biggest events, are in bullish spirits: a key indicator of the market for semi-processed copper ore -- known as concentrates -- is pointing to the tightest market in more than five years, and banks and brokers such as Morgan Stanley and Macquarie Group Ltd. rank the metal as one of their top picks.

“We are looking at a classic resource cycle,” said Colin Hamilton, managing editor for commodities at BMO Capital Markets. “No one has copper coming now, when it is needed, but everyone has projects coming 2022-2023 –- potentially after we’ve had to drive some substitution.”

read more - https://www.bloomberg.com/news/articles/201...y-not-be-enough



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Feb 27 2019, 09:24 PM
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In Reply To: blacksheep's post @ Feb 27 2019, 08:41 PM

Next year it's DRC again.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Feb 27 2019, 08:41 PM
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In Reply To: blacksheep's post @ Feb 9 2019, 12:17 PM

An opinion piece by Andy Home - extract
QUOTE
Last year it was the Democratic Republic of Congo. This year it is Zambia.

Both African countries have driven through draconian changes to their mineral tax regimes, overcoming the entrenched opposition of some of the world’s biggest mining houses.

Both are betting that the world’s need for their resources, particularly copper and cobalt, will keep the tax receipts flowing.

Right now, however, the push for a greater share of the wealth lying beneath the African Copperbelt is causing supply-chain disruption for both copper and cobalt.

read more - https://www.reuters.com/article/us-africa-m...e-idUSKCN1QG04X



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Feb 9 2019, 12:33 PM
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In Reply To: blacksheep's post @ Feb 9 2019, 12:14 PM

QUOTE
Heavy rains in northern Chile,

QUOTE
Because El Niño's warm pool feeds thunderstorms above, it creates increased rainfall across the east-central and eastern Pacific Ocean, including several portions of the South American west coast. The effects of El Niño in South America are direct and stronger than in North America. An El Niño is associated with warm and very wet weather months in April–October along the coasts of northern Peru and Ecuador, causing major flooding whenever the event is strong or extreme.[95] The effects during the months of February, March, and April may become critical along the west coast of South America, El Niño reduces the upwelling of cold, nutrient-rich water that sustains large fish populations.........




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Feb 9 2019, 12:17 PM
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Posts: 5,699
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Glencore cuts workers at Congo copper and cobalt mine
Bloomberg News | about 7 hours ago |
QUOTE
Glencore is cutting the workforce at its Mutanda copper and cobalt mine in the Democratic Republic of Congo to lower costs before a possible shift in production methods, according to people familiar with the matter.

The company is studying the economic viability of those deposits, given rising production costs and an uncertainty political environment in Congo

Labour unions met on Friday to discuss the job cuts, which will affect contractors and expatriate employees, the people said, asking not to be identified as the matter is private. No Congolese nationals are affected.

read more - http://www.mining.com/web/glencore-cuts-wo...er-cobalt-mine/

Glencore's Zambian unit suspends operations after three workers die in fire
Reuters | about 9 hours ago |
QUOTE
Glencore's Zambian unit Mopani Copper Mines Plc said on Friday it had suspended operations at its Mindola north shaft after three workers were killed in a fire accident.

Mopani is one the biggest mining companies in Zambia — Africa's No. 2 producer of the metal — with an output of around 100,000 tonnes a year. It was not immediately clear how much production would be lost owing to the suspended production.

(By Chris Mfula; Editing by James Macharia)

http://www.mining.com/web/glencores-zambia...rkers-die-fire/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 9 2019, 12:14 PM
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Posts: 5,699
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At least three Chilean copper mines halted due to heavy rain
QUOTE
Heavy rains in northern Chile, which forced state miner Codelco to halt operations at its Chuquicamata and Ministro Hales copper mines, have also impacted Freeport-McMoRan’s El Abra.

Codelco, the world’s No.1 copper producer, said Friday it had sent its daytime shift of workers home as a preventative measure and would evaluate whether to cancel its night shift as well.

Freeport-McMoran (NYSE: FCX), the world’s largest listed copper miner, has also suspended operations at its northern Chile mine El Abra following several days of heavy rain and electric storms that have killed three people and left roads cut off, houses damaged and triggered warnings of land and rock slides.

read more - http://www.mining.com/least-three-chilean-...due-heavy-rain/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Feb 5 2019, 12:05 PM
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First Quantum Is Said to Offer $700 Million for Zambia Mine
By Matthew Hill and Taonga Clifford Mitimingi
February 5, 2019, 2:54 AM GMT+11
QUOTE
Company seeks to buy remaining 20% of Kansanshi Copper Mine
Deal includes state-owned ZCCM-IH dropping $1.4 billion suit
First Quantum Minerals Ltd. has offered to buy the Zambian government’s 20 percent stake in Africa’s biggest copper mine for as much as $700 million, according to two people familiar with the transaction.

https://www.bloomberg.com/news/articles/201...for-zambia-mine



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 6 2018, 10:37 AM
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What does China's Belt and Road Initiative mean for copper?
BHP's presentation - China’s Belt and Road Initiative, episode three: copper bottomed
https://www.bhp.com/media-and-insights/pros...copper-bottomed?



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 23 2018, 09:40 AM
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Posts: 5,699
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Copper benchmark deal signals shifting supply dynamics in 2019: Andy Home
Reuters | about 6 hours ago |
extract - see link for full details - http://www.mining.com/web/copper-benchmark...2019-andy-home/
QUOTE
Copper supply has surprised this year, but not in the way everyone expected.

It was supposed to be a year of mine disruptions, with the market anticipating that multiple labour contract expiries would result in at least one strike, and possibly more.

In the event there was none.

By copper's standards it has been a remarkably smooth year for mine production, leaving analysts struggling to fill the customary collective allowance for disruption in their forecasts.

There has been plenty of disruption, but it has taken place at the smelting-refining stage of the copper production chain, roiling the refined metal market and allowing smelters to feast on a rare abundance of raw materials.

This dynamic looks set to change again next year, judging by the benchmark copper concentrate terms set by Chilean miner Antofagasta and China's Jiangxi Copper.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 15 2018, 01:32 PM
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Posts: 5,699
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Chinese copper smelters look to mine investment to secure supply
Reuters
QUOTE
SHANGHAI – Chinese copper smelters are looking to make more investments in mines, pushing to shore up supply of concentrate at a time when competition for the raw material is heating up, industry executives said on Wednesday.

China is the world's biggest consumer of the metal but its own copper mine production has been stagnating amid a broad crackdown on pollution, exacerbating a heavy reliance on imports.


QUOTE
Xiangguang is looking at potential investment in mines in South America, Europe and some African countries with stable political environments, Qi told Reuters on the sidelines of the conference.

http://www.mining.com/web/chinese-copper-s...-secure-supply/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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