Copper

Moderately lower base metals, molybdenum, uranium and silver prices more than offset stronger gold, potash and cobalt prices in May, lowering the Scotiabank Commodity Price Index by 2.3% last month. LME copper prices eased from US$4.30 per pound in April to $4.05 per pound in May "and are still exceptionally lucrative at US$4.08 in late June," noted Scotiabank economist Patricia Mohr.

Cornerstone Capital Resources of Mount Pearl, NL, and joint venture partner Thundermin Resources of Toronto are pleased with the increased resource estimate for their Little Deer copper project 10 km north of Springdale.

Moly Mines Limited (TSX:MOL)(ASX:MOL) said today it has signed various project debt agreements with China Development Bank Corporation (CDB) totaling US$494 million for the construction of the Spinifex Ridge Molybdenum / Copper mine (Spinifex Ridge), Australia. Image by Moly Mines Limited

China’s massive appetite for commodities is creating concerns for the global economy, the environment and workers in other countries. In a series of reports, VOA is looking at the economic power modern China wields. Chinese government and company officials are signing agreements at a dizzying pace around the world, including in places where few other foreigners invest.

Rio Tinto is comfortable with the company's multibillion-dollar project budgets in Australia, where labour, input and services costs were all increasing, Chief Executive Tom Albanese said on Tuesday. "I'm comfortable that our budgets in Australia are being managed appropriately," Albanese said at a business lunch.

Zijin Mining Group Co Ltd said it plans a $280 million U.S. dollar-denominated bond issue, raising capital to acquire copper concentrate overseas for a smelter project of its unit. In a filing to the Hong Kong bourse on Tuesday, Zijin Mining said the bonds would have maturity of five years and a fixed interest rate of 4.25 percent per year during its term with interest payable semi-annually.

Papua Guinea's Prime Minister, Sir Michael Somare, has accused Australian mining giant Rio Tinto and its subsidiary Bougainville Copper Limited (BCL) of being behind the PNG military's bloody suppression of Bougainville rebels opposed to the company's

An expansion of one of the world's largest open pit copper mine received an important boost Monday after Utah regulators signed off on a permit allowing increased emissions from dust. Kennecott Utah Copper can now begin to actively pursue almost two dozen other permits that are needed for the mine's expansion, including approvals for the conversion of a coal-fired power plant to natural gas.

Viking Minerals commenced the review of pre-drilling and geological mapping of its South Dolly Varden gold / copper claims in Elko County, Nevada. This mapping is to facilitate a resolution of the zones of mineralization outlined by the surface geochem and rock samples and the 3,000 foot delineated coincident Induced Polarization (IP) anomaly with the intersection of the diamond drill core holes.