Copper market’s biggest whale fuels speculation of a major shift
The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year.
Red Crescent Resources (RCB.TO: Quote) said on Monday that South African miner Petmin (PEMJ.J: Quote) has agreed to acquire a 10.1 percent stake in the Canadian exploration company for C$4.64 million ($4.78 million).
Separately, Red Crescent said it had signed a new definitive agreement with privately held Gensay to acquire a 75 percent interest in the Sivas copper project in central Turkey.
