Two of Zambia's largest copper mines, Glencore's Mopani and Xstrata's Kansanshi were shut over the weekend; the former over health concerns and the other after workers downed tools.
There's a new appetite for equity financing in the global mining sector, as investors tiptoe back into a market that has fretted about funding for the last six months.
Boosted by firm metals prices and a less pessimistic outlook for a still-fragile global economy, many mining companies are again able to sell shares in secondary offerings or tempt investors with an initial public offering.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose to their highest in nearly a decade, data showed yesterday, suggesting oversupply in top copper consumer China where demand has been slower than expected.
A new survey by The Economist Intelligence Unit finds when institutional investors interested in frontier markets were asked to choose two regions out of five, two-thirds see Africa – projected to be the fastest growing region on the planet this year – as holding the greatest opportunity.
Chinese-owned mining company Ecuacorriente will sign a contract to invest $1.4 billion over five years for extracting copper in Ecuador's southern Amazon, reports local newspaper La Republica.
After steady gains throughout the day Ivanhoe Mines – building one of the richest copper and gold mines in the world – ended Thursday up 5.47% after CEO and founder Robert Friedland said he's found buyers for the company's other assets.
Baja responds to misleading statements by dissident shareholder Mount Kellett Master Fund II A L.P., and highlights Mount Kellett's failure to address seven critical facts in its dissident circular. Baja cautions shareholders not to trust the Mount Kellett wolf in sheep's clothing.
Speculative buying of commodities, including copper, may continue to gain traction as prices are pegged to rise amid a steady rebound in the global economy, especially in the United States. Although Europe’s financial outlook remains on shaky ground, geopolitical risks in Iran and across the Middle East are pushing up energy costs, and China’s economy is showing signs of slowing down, demand for the red metal is expected to remain steady
