Peru presidential candidate fires warning to mining companies over copper

Wall of copper supply never materialized, nickel market recorded first deficit since 2010 and zinc, lead will only get tighter in 2017.

A surge in commodity prices combined with its multibillion-dollar asset fire-sale has put the company in a position to pay big dividends and explore acquisitions.

The company is reviewing its copper output guidance for 2017 as industrial action at its largest copper mine enters its third week Thursday.

The world's No.1 heavy machinery maker is telling miners not to rest on their laurels now that the industry is finally coming back up from a brutal downturn and keep focused on maximizing returns and efficiency.

The world's number five diversified miner posted its first annual net profit in five years.

Net profit was $3.2bn for the six months to December 31, compared with a loss of $5.7bn in the same period a year earlier.

Top listed copper producer Freeport says negotiations with Indonesia going nowhere – will slash production at iconic mine by 60%.

While the copper market is gaining momentum, it is a good time to look at the copper mining champions in terms of copper grade in ore reserves.

Rebuttal comes as shareholders launched an investigation over possible false and misleading statements made by the miner about its Pebble copper-gold project in Alaska.