Copper price up as Chinese imports surge

Donald Trump’s Environmental Protection Agency (EPA) has injected new life into the long-stalled and controversial copper-gold-silver project near Bristol Bay, southwest Alaska.

Global silver production dropped last year for the first time since 2002 driven by lower by-product output from the lead/zinc and gold sectors, as well as a sharp decline of scrap supply to the market.

The Polish company, Europe's second-largest copper producer, said that given current macro conditions the plan had lost sense.

The new head of the environment office, Roy Cimatu, has however said he believed it was possible to balance mining and natural resources protection.

Workers temporarily blocked access roads to the site in protest for the decision, which they say will inevitably bring a massive wave of layoffs.

Chinese refined copper imports for April down 30%, concentrate shipments decline 17%.

Governments, industry players, unions expected to sign federal mining agreement this week, which aims to double investment in the sector to $25bn in eight years.

Local judge says the company failed to complete improvements that could have prevented the latest cyanide spill, the third such accident in less than 18 months.

A deal between workers and the companies that own the Collahuasi copper mine in northern Chile could mean labour peace at the often-picketed mine for the next three years.