Havilah will still drill at Kalkaroo project

After steady recovery from near four-year lows, copper price sinks below $3 a pound again over China and supply growth worries.

But production at massive Mongolian mine slips and shares take a beating.

But copper production shoots up 17% in first quarter.

The world's No.1 copper producer needs to invest roughly $30 billion in the next decade to counter dwindling ore grades in its massive mines.

Chinese buyers cough up $6.3 billion in cool hard cash for massive Peru copper project indicating renewed confidence in prospects for the red metal.

US copper mine production grew 5% to 1.23 million tonnes in 2013 according to the latest US Geological Survey, but silver and gold recovered slid.

The probe was opened following a settlement with regulators that alleged JPMorgan manipulated power markets in the Midwest and California.

China's iron ore imports jump 21% to 74 million tonnes while copper imports surge 31%.

The criminal activity involved contractors and it had been going on since 2011.