Mining giant Chile flush with cash as copper price soars
Sky-rocketing copper prices, combined with a major bump in economic activity expected as a result of its fast-paced vaccination drive could see Chile's gross domestic product jump 6% in 2021.
Chilean mines will negotiate contracts with 32 unions next year, representing about three-quarters of the country’s copper output, or about one-fifth of world production.
“The bitcoin’s super-high volatility is not for everyone’s taste,” said Randy Frederick, vice president of trading and derivatives with Charles Schwab & Co.
Monday, mining companies in the DRC said that proposed changes to mining code adopted by lower house of parliament would do lasting damage to investment.
November copper concentrate shipments to China hits all-time monthly high – annual iron ore imports set to easily surpass 2016's record 1 billion tonnes.
Erdenet, which produces 530,000 tons of ore annually, is one of Asia’s biggest copper and molybdenum mines and a top tax contributor to the country’s $12 billion economy.