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Copper, Discussion
blacksheep
post Posted: Aug 9 2019, 12:40 PM
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In Reply To: blacksheep's post @ Aug 5 2019, 03:55 PM

The $$ impact from previous post now evident
Protests halt top copper mines in Peru from shipping, cut off supplies
Reuters | August 8, 2019
QUOTE
Anti-mining protests in Peru have held up about $400 million in copper exports from some of the country’s top mines and blocked supplies from reaching their operations for nearly three weeks, the manager of port operator Tisur said on Thursday.

Four copper mines – Freeport-McMoRan Inc’s Cerro Verde deposit, MMG Ltd’s Las Bambas, Glencore PLC’s Antapaccay and Hudbay Mineral’s Constancia – have been unable to ship copper concentrates from Matarani to destinations in Asia and Europe since July 18, said Gabriel Monge, manager of port operator Terminal Internacional del Sur (Tisur).

Last year, the four mines – led by the country’s top producer, Cerro Verde – churned out about 1.2 million tonnes, or about half of total copper output from Peru, the world’s No. 2 supplier.

https://www.mining.com/web/protests-halt-to...t-off-supplies/



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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: Aug 5 2019, 03:55 PM
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Peru is the world’s second-largest copper producer. - the following protests may impact supply

QUOTE
LIMA (Reuters) - Peruvian President Martín Vizcarra on Sunday authorized the army to maintain order at a key mining port, a day before an expected new round of protests against Southern Copper Corp’s $1.4-billion proposed Tia Maria mine.


QUOTE
Matarani is used by major copper miners such as Cerro Verde, Antapaccay de Glencore and Constancia de Hudbay, according to the private Peruvian Association of Maritime Agents.

https://www.reuters.com/article/us-peru-sou...t-idUSKCN1UU0OJ



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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

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Aug 1 2019, 10:32 AM
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Posts: 6,403
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Mining and commodities giant Glencore (LON:GLEN) warned on Wednesday that it would take a $350 million hit when reporting first-half earnings next week, due to its African copper business failing to meet expected operational performance and an ongoing slump in cobalt prices.

The Swiss company said that setbacks at its mines in the Democratic Republic of Congo (DRC) and Zambia caused copper production to fall 5% to 663,000 tonnes in the six months leading up to June.

Production was also affected by the recent closure of two “uneconomic” shafts at its Mopani Copper Mines business in Zambia and a landslide at a copper and cobalt mine in Congo, run by its subsidiary Katanga Mining, which killed more than 40 illegal miners.

As a result, Glencore signalled it is likely to cut the target for copper production this year, adding that it would reveal a detailed turnaround plan for the division next week.

read more - https://www.mining.com/glencore-warns-of-35...lt-prices-rout/



--------------------
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

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Jul 15 2019, 03:35 PM
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QUOTE
An eight-year legal fight over an old BHP copper discovery culminated on Saturday when a World Bank tribunal ruled that Pakistan must pay Tethyan Copper Company Pty Ltd damages worth $US5.84 billion ($8.3 billion)


Roughly $1bil per each year of the legal stoush! Lucky stiffs biggrin.gif BHP and Mincor missed out big time

QUOTE
Perth-based Tethyan was once ASX-listed, and remains incorporated and domiciled through the Australian Securities and Investments Commission (ASIC).

BHP largely exited Tethyan when it struck a joint venture agreement with ASX-listed Mincor in 2000.

Mincor demerged Tethyan in 2003, at which time it became an ASX-listed company for three years until it was acquired by multinational miner Antofagasta.

Tethyan is now owned by Antofagasta and Canada's Barrick Gold, and the current owners have inherited a legal agreement over Reko Diq that was struck between BHP and the Balochistan Government in 1993, known as the ''Chagai Hills Exploration Joint Venture Agreement''.

read more - https://www.afr.com/business/mining/austral...20190714-p526zz



--------------------
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: Jun 28 2019, 12:03 PM
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At least 41 artisanal miners killed in Glencore’s Congo mine collapse
Reuters | June 27, 2019 | 9:08 am Top Companies Africa Cobalt Copper
https://www.mining.com/web/at-least-36-kill...-mine-in-congo/

Glencore shares fall after DRC mine collapse



--------------------
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: 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: 6,403
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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
 
 


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