Freeport Indonesia to process 400,000t of copper concentrate at new smelter
Earlier this month, Freeport obtained an export permit for the rest of the year from the government.
Canadian mining equities didn’t fare great again in Ernst & Young’s most recent Canadian Mining Eye report, with the index dropping 1% in Q1 2015, yet much better than in the same period last year, which saw a 12% decline.
The index — which tracks Canadian mining sector performance of 100 TSX and TSXV mid-tier and junior companies with market capitalizations between $2.1bn and $160m — reveals that most players are still working on controlling expenses, as declining grades continue to put pressure on costs.
Source: Ernst & Young Q1 2015 Canadian Mining Eye.
“Things like fluctuating commodity prices, stretched balance sheets and exploration shutdown are all challenging miners,” says Bruce Sprague, EY’s Canadian Mining & Metals Leader. “But with challenges come opportunity. We’re seeing many mining companies putting efforts into streamlining inventory, optimizing working capital, divesting non-core assets and strengthening their focus on portfolio management.”
Source: Ernst & Young Q1 2015 Canadian Mining Eye.
These are the main trends highlighted in the report:
Signs of life are more dominant among major miners, says E&Y. The group witnessed an increase of 4% in Q1 2015 compared to a 9% decrease in Q4 2014.
You can read the full report here.
