Africa-focused copper miner Discovery Metals (ASX:DML) has rejected a bid from Shanghai's Cathay Fortune on the grounds that the proposed AUD$830 million consideration is insufficient.
The Chuquicamata mine in Chile - the world's largest open cut copper mine, will commence underground operations after nearly a century of open-cut production.
Canadian Lumina Copper Corp. (CVE:LCC) fell 8.5% Tuesday after the company hinted its expected sale will have to wait as it plans to carry a study at its Taca Taca massive copper/gold/molybdenum deposit in Argentina.
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.
