Zinc

For the third time this year, workers at the Collahuasi mine in Chile are on strike. The union representing the world's third largest copper mine is accusing management of reneging on agreements that ended a work stoppage in October, AFP reports. Production was paralyzed on July 30 and October 29 when workers downed tools. Collahuasi is owned by Switzerland’s Xstrata and Britain-based Anglo American. Reuters reports Collahuasi produced 504,000 tonnes of copper in 2010, when output was hit by a month-long strike. The mine expects to produce 500,000 tonnes of copper this year. It supplies roughly 3% of the world’s copper.

The Pebble Mine copper-gold-moly project in Southwestern Alaska got hit with another negative poll last week. The Huffington Post reports that 81% of the roughly 2000 shareholders of the Bristol Bay Native Corporation — the regional Native corporation and largest private landholder in southwest Alaska — have rejected the mine on the basis that it will "unavoidably put at risk the 'fisheries and our Native way of life.'" The project is a partnership between Anglo American (LON:AAL) and Northern Dynasty Minerals (NYSEAMEX:NAK).

Copper advanced the most in more than two weeks in New York after record holiday sales in the U.S., the world’s second-biggest consumer of the metal, fuelled optimism demand will remain steady. Copper also gained as the euro climbed against the dollar after German Finance Minister Wolfgang Schaeuble urged fast-track treaty changes to tighten budget discipline.

Latin American blogs reported on Sunday exit roads from the regional capital remained blocked and anger was mounting over Newmont Mining's proposed $4.8 billion Conga gold mine in northern Peru as protests entered its fourth day. Schools and business had closed and police used teargas against marchers since protests began Thursday. Residents led by the Maoist president of the Cajamarca region say Conga will destroy the environment by transforming four high Andean lakes into reservoirs for mining operations and on Saturday formed the 'Front for the Defence of the Interests of Cajamarca'. Conga would be the biggest investment ever in Peru mining and is a crucial test for newly installed president Ollanta Humala who has on many occasions publicly backed the project.

A joint venture between uber-miner Rio Tinto and Chinese partner Chinalco was finalized on Friday. The JV, called CRTX, has been officially registered and cleared to do business in China. The new company's priority will be exploring for copper, with plans to expand into coal and potash, Rio Tinto stated in a news release.

Shares in some of the world's biggest copper producers are getting trounced as the price of the bellwether metal continues to flounder around the $3.27 per pound mark. Taking a 3-month time frame, Lundin Mining (TSE:LUN) has shed 37% of its share price, BHP Billiton (NYSE:BHP) is down 22%, Anglo American (LON:AAL) has sunk 15%, and Freeport McMorran (NYSE:FCX) has crashed 28%. Three-month contracts for the red metal fell to a one-month low Wednesday to $7,168 a tonne in intra-day trade in London and extended its losses in New York where it was trading at $3.27 a pound, its lowest level since October 25 and down 30% from its 2011 high of $4.61 set in February.

Nautilus, the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits, announced on Friday a drilling campaign conducted at its tenements in the Bismarck Sea of Papua New Guinea has enabled the company to increase the resource estimate at its Solwara 1 project, and to declare a maiden Inferred Resource at the nearby Solwara 12 deposit. Earlier this month Toronto-listed company completed the quarter with a cash balance of $155.1 million, after successfully raising $70.5 million in the first tranche of a $98.1 million capital raising. The final tranche of C$27.6 million was received in October. The capital raising involved the issue of approximately 39 million shares at C$2.52 per share. The counter was trading down 2.9% on Friday at $2.29 giving it market worth of $448 million.

Global mining giant Anglo American announced the delivery of the first copper produced from its $2.8bn expansion of its fought-over Chilean mine Los Bronces, amid signs that its battle with its state-backed rival Codelco could avoid the courts.

The mining industry in Quebec is roaring, with $2.92 billion in investment in 2010, up from 43% in 2009. The Institut de la statistique du Québec, which released the findings on Wednesday, said that this was the seventh straight year mining investment increased, and in each of the last three years investment was greater than $2 billion. In March the Fraser Institute warned that changes to the province's tax code would harm business investment, and Quebec slid from first to fourth in the institute's list of mining-friendly jurisdictions. If the changes don't weigh on province, 2011 could be a banner year.