Copper price rally builds as China’s spending balloons

After the Toronto Stock Exchange rang the closing bell today, Ivanhoe Mines (IVN.TSX) announced they were resuming development work on Platreef, their 75.7 million ounce (Indicated + Inferred) platinum-gold-nickel-copper project in South Africa.

But unionized workers insist on claiming that Antamina's output would likely drop by at least 90%.

And if the Chinese government stops adding to its strategic reserves the price could fall towards $2.50 a pound says new research report.

A catastrophic tailings dam breach at its Mount Polley mine in British Columbia has taken a toll on Imperial Metals' (TSX:III) bottom line.

Glencore and X2, a company set up by former Xstrata boss Mick Davis, are among the suitors of the Chilean copper assets put up for sale by global miner Anglo American.

Mining companies today face a complexity of problems: spiraling costs, government intervention, deepening pits, lower ore grades, lack of community trust, and declining productivity are just some of the issues.

Decline was in line with S&P/TSX Composite index, which also plummeted 15% during the quarter.

The news come only a day after the project executive director in Chile, Eduardo Flores, told local media that Barrick was hopeful it could find a way forward with the long-delayed mine.

Nominee Amarjargal Renchinnyam is a respected economist who could help bring Vancouver firm's $5bn Oyu Tolgoi copper-gold expansion project back on track.