China's copper consumption levels are set to fall for the first time since 2008 on the country's easing growth and the resulting tepid demand for commodities.
Rio Tinto (ASX:RIO) has announced further retrenchments and cost cutting measures due to concerns that the slowdown in China's economic growth will be more pronounced than expected.
First ore from the massive copper-gold-silver mine is expected to be processed within six weeks of China and Mongolia signing the final power agreement.
At the same time the 50-year-old boss of the world's number one miner also pocketed 300,000 BHP shares worth more than $10 million thanks to the company's employee share incentive scheme.
The world’s most important copper companies will gather next month in Shanghai in an event organized by the Chinese’s city Futures Exchange (SHFE) and Chile’s Centre or Copper and Mining Studies (Cesco).