Copper price turns higher on record Chinese imports

The mining giant will add those jobs during the next 12 months.

Collapse of $750m mining deal sparks criticism that Canada needs heavier-handed approach to regulating venture market.

"We and China Gold will create an attractive financial platform that private investors can take part in and make money," said Alexey Chekunkov, head of fund.

Armed separatists have occupied five villages in Indonesia’s Papua province, threatening to disrupt Freeport-McMoRan Inc’s giant Grasberg copper mine, which has already been hit this year by labor unrest and a dispute over operating rights.

Call options wagering on copper climbing above $10,000 a metric ton by Dec 2018 have started trading during past two weeks, with $4.5m spent by traders.

Copper cargoes drop more than 20% while iron ore shipments sink to one-and-a-half year lows.

China needs to ease its reliance on the Democratic Republic of Congo.

Aggregate market cap of the top 100 junior mining companies was up 7% to $12.2 billion, a level not seen since 2010, but the group significantly underperformed the Venture Exchange as a whole.

Rising mining production should help ease some of the economic problems in Congo where inflation is expected to hit 48 percent this year.