Aluminum, steel most exposed metals to Trump tariffs, Citi says
A 25% tariff as announced by Trump on Monday would likely cause steel prices to rise by $100 to $150 a short ton, the analysts said.
Zambia, Africa’s top copper producer, has lifted an environmental ruling that forced First Quantum Minerals (TSX:FM)(LON:FQM) to halt work at its Chisolo dam at the miner’s $1.7-billion Sentinel copper project last May.
According to the Metal Bulletin (subs. required) the dike is vital for the supply of water to both the Vancouver-based company’s Sentinel copper mine and its planned Enterprise nickel project.
Sentinel is expected to come on stream by the mid-2014 and produce around 270,000 to 300,000 metric tons of copper a year in its initial six years of operations.
The Canadian firm already operates Kansanshi mine, Zambia’s largest copper mine by output.
