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Copper, Discussion
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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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/



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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 9 2019, 12:14 PM
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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



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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: 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?



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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: Nov 23 2018, 09:40 AM
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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.




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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: Nov 15 2018, 01:32 PM
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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/



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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: Nov 11 2018, 11:39 AM
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Top copper miner's output slump adds to worry on metal shortfall
Reuters | a day ago |
QUOTE
A tight copper market may be set to get a lot tighter, if a report this week from the world’s biggest miner of the metal is any indication.

Santiago-based Codelco posted the lowest quarterly copper production this year in the third quarter, according to Chile copper agency Cochilco. The company reported declines across all of its mines in September as ore grades fell an average of 5 percent in the first nine months of the year.

The decline in ore grades compounds supply troubles after a commodities price slump that ended in 2016 made miners skittish about expanding their operations in Chile, the world’s largest copper supplier. At the same time, mounting trade tensions are prompting mining companies to delay big expansion projects amid uncertainty about the outlook for demand.


read more - http://www.mining.com/web/top-copper-miner...etal-shortfall/



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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: Oct 2 2018, 02:46 PM
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Posts: 5,403
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Copper’s Dirty Secret
Commodities | 1:07 PM
Katusa Research outlines a number of reasons to be bullish on copper, including one little known market secret.
extract
QUOTE
Copper’s Dirty Secret – What Majors Look for in World-Class Projects

It’s called “clean concentrate.”

Copper concentrate is what a miner sends to a smelter after the rock that contains the copper is crushed and ground. Following that, the copper is extracted and concentrated.

The smelter turns that copper concentrate (which is usually anywhere between 22.5 – 30% copper) into the copper we use in buildings and manufacturing.

When a copper producer sends its concentrate to a smelter, it can contain nasty stuff like mercury, arsenic, and antimony.

When copper concentrate has high levels of these “nasties,” it is called “dirty” concentrate.

A producer can get “penalized” for dirty concentrate (meaning it gets less per pound of copper than it does for “clean concentrate”). And some smelters flat out refuse dirty concentrates when there is an excess supply of it.

The global smelters are in high demand for “clean concentrate.”

You probably didn‘t know this, but for years, smelters have been dealing with this secret by “blending” the dirty concentrate with clean concentrate.

Chile is the world’s largest copper-producing country. And its giant Escondida mine is showing higher nasties compared to when it first started producing many years ago.

Many of the large copper-producing mines will go through the same thing.

The Asian smelters who are now dealing with a high supply of dirty concentrate can dictate smelting fees, which means the dirty concentrate producers are getting slaughtered. This means that BHP, Rio Tinto, MMG, and Freeport are all dealing with this very dirty secret.

Nobody is talking about this, but they will be soon.

This is a small nuance that can have huge effects on a copper investment. A company can have a lot of copper in the ground, but dirty concentrate production can kill it. And your investment.

Smelter logistics play another important role. Where will the copper company send their copper concentrate to? Access to a port is just one of the many concerning issues to check off the list.

What happens if the closest smelter already has enough copper concentrate? This will mean additional transportation costs and lower copper producer profits.

To sum it up I am very bullish on top-tier, world-class copper deposits that have the following qualities:

Low-cost production,
Clean concentrate,
Located in safe jurisdictions.

It’s by owning assets with those qualities that safe, large capital gains will be made. It’s by owning those assets that copper investors can make a fortune in the electric vehicle boom.

And, as the metallurgy and the geology changes, copper has a lot more impurities in it. So, the copper price the producer receives will be subjected to additional penalties stemming from down blending and treatment charges by the smelter.

Smelters are going to need clean concentrate to blend with this dirty concentrate.

You’ve got to know what the final product is. It’s not just geology. It’s not just the engineering, the logistics, and the cost.

You have to understand the metallurgy.


read more - https://www.fnarena.com/index.php/2018/10/0...s-dirty-secret/



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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: Sep 23 2018, 09:32 PM
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Posts: 5,403
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METALS-Copper surges in biggest one-day gain since 2013
Peter Hobson
Published 12:51 PM ET Fri, 21 Sept 2018

QUOTE
* U.S., China tariffs set at lower rates than expected

* China pushes ahead with economic stimulus

* Copper stockpiles fall, market in deficit

* Nickel rises 5 percent, smashes through technical levels (Updates with closing prices)


read more - https://www.cnbc.com/2018/09/21/reuters-ame...since-2013.html



--------------------
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  
 
 


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