Copper Market Sees Turbulent Week Amid Record Demand

Copper prices saw significant fluctuations amidst record-breaking demand from various industries, while key players in the market faced numerous challenges. Inmet Mining Corp.'s planned merger with Lundin Mining Corp. will create a top-tier copper producer worth C$9 billion, and demand for the metal shows no signs of slowing down. Meanwhile, Vedanta Resources PLC faced a court battle over its alumina refinery expansion, and Rio Tinto's aluminum business declared force majeure due to floods in Australia.

Key Takeaways:

Inmet Mining Corp.'s (IMN.T, IEMMF) merger with Lundin Mining Corp. (LUN.T, LUNMF) will create a combined entity worth C$9 billion, the 8th largest copper producer globally.
Vedanta Resources PLC (VED.LN) faced a court order to stop the expansion of its alumina refinery in eastern India's Orissa state.
Rio Tinto PLC's (RIO) aluminum business declared force majeure on supply due to the impact of floods in Australia's Queensland state.
Corporacion Nacional del Cobre de Chile's (CCU.LN) Andina division halted underground mining activities after a fire.
Aurubis AG (NDA.XE) sold shares at EUR41.50 each in its capital increase.
KGHM Polska Miedz SA (KGH.WA), Poland's largest copper producer, is likely to post a record-high net profit for 2010.
Ormonde Mining PLC (ORM.LN) saw its shares soar after reaching a "major milestone" in its tungsten mine project.
China Nonferrous Metals Co. (8306.HK) is expected to commence output at its Mulyanshi Copper project in Zambia in December 2011.

Statistics:

C$9 billion: Combined market value of Inmet Mining Corp.'s merger with Lundin Mining Corp.
EUR41.50: Price per share in Aurubis AG's capital increase.
2010: KGHM Polska Miedz SA expected to post record-high net profit.
December 2011: China Nonferrous Metals Co. to commence output at Mulyanshi Copper project.

Sources:

Dow Jones Commodities News via Comtex, January 13, 2011.
Dow Jones Newswires.