Using the dismal science to make forecasts and taking risks with real money are two very different things. And the Brazilian giant is definitely putting its money where its mouth is.
Peruvian company Grupo Brescia announced today that it is going ahead with plans to further diversify its investments by mining for copper in neighbouring Chile, reports Portal Minero.
The nine miners trapped in a high altitude underground copper mine in Peru since last Thursday are well and with their families, after they were freed this morning (12:00 GMT).
An undersea 8.6 earthquake struck Indonesia this morning at 04:38 ET, announced the U.S. Geological survey (USGS). The movement, which triggered a tsunami alert across the Indian Ocean, has forced all mining companies in Indonesia to halt their operations until further notice.
Overall, only the stock indices of Spain and Portugal's top companies fared worse than Toronto's S&P/TSX-60. But in the group of resource-heavy exporting countries Canada's stock market came in stone last.
Peru’s long-running Conga mine dispute is about to reach a turning point as international consultants appointed by the government in February finalize their environmental report on Newmont Mining and Buenaventura's US$4.8 billion copper-gold project.
Chile’s state-owned copper giant Codelco will make a decision on the construction of an underground mine at its Chuquicamata operation before the end of this year, said CEO and Executive President Diego Hernandez.
Chile’s copper exports fell 6.5% to US$10.5 billion in the first three months of 2012 from $11.2 billion in the same period last year, according to figures compiled by the country’s Central Bank.
The $2.6 billion Qatari investment could provide Glencore CEO Ivan Glasenberg the necessary backing he needs to push through the deal which many Xstrata shareholders say sell them short.
