Mining industry
Swedish miner Boliden AB anticipates substantial long-term demand growth for its copper and zinc business, driven by a shortage of zinc concentrates and robust forecasted demand for copper. According to Boliden's fourth-quarter earnings conference call, the zinc concentrate market is unlikely to meet growing demand over the next
Mining industry
Freeport-McMoRan Copper & Gold Inc. has announced the redemption of its Gold-Denominated Preferred Stock (FCX Pr C), with a total redemption value of $236.3 million. The redemption is scheduled to take place on February 1, 2006, and will result in a reduction of the company's total consolidated
Mining industry
Freeport-McMoRan Copper & Gold Inc. announced that its Board of Directors has authorized a supplemental common stock dividend of $0.50 per share to be paid on March 31, 2006. This payment represents an addition to the company's regular quarterly common stock dividend and is part of a
Mining industry
Lafayette Philippines, the Australian mining firm that was fined for violating the Philippines' anti-pollution law, has appointed a new CEO to oversee the operation of its gold and copper mining project on Rapu-rapu island. Carlos Dominguez, a former Philippine government environment chief and president of Philippine Airlines, has vowed
Mining industry
Peru's Ministry of Energy and Mines reported mixed results in the country's mineral production for November, with gold output increasing by 54.8% compared to the same month a year before, while copper production declined by 3.7%. The rise in gold production is attributed to
Mining industry
Market sources say the threat of a strike at Codelco, the world's largest copper producer, has been largely priced into the market, leaving copper prices nearly flat despite record highs. The strike, which involves 20,000 unionized workers, is centered around a bonus demand of 500,000 Chilean
Mining industry
The New York precious metals market experienced a significant surge in gold and silver futures trading on Tuesday, driven by technical chart-based buying. Despite the price movements, analysts noted that the unusually light volume after Christmas might have exaggerated the magnitude of the price changes. This article provides an overview
Mining industry
Global copper demand is expected to persist due to increasing consumption in Asia, particularly from China, said Steve Whisler, chairman and CEO of Phelps Dodge Corp. However, industry players are facing challenges such as rising input costs and local currency appreciation, leading to cost blowouts at some projects. Copper prices
Mining industry
Chilean copper mine Escondida, the world's largest privately held copper supplier, is exploring the possibility of producing molybdenum, a rare and valuable metal, after record-setting prices reached $32 per pound on international markets. Escondida's vice president of operations, Marcelo Villouta, revealed that the mine's
Mining industry
China ended a preferential tax policy on alumina imports and aluminum exports, citing the country's top economic planning agency, the National Development and Reform Commission. This move comes as global mining companies, including Rio Tinto and Freeport-McMoRan, report strong production and revenue growth due to rising demand from
Mining industry
Gold futures resumed their traditional inverse relationship with the U.S. dollar, causing concerns for the yellow metal's future, as analysts noted. Despite high gold and copper prices, Freeport-McMoran Copper & Gold Inc. has cut its debt by $170 million this year. The European Central Bank reported a
Mining industry
Mexican mining company Grupo Mexico SA has stated that a strike at its Asarco LLC unit could cut production in half, affecting the global copper supply. Meanwhile, East Asia aluminum premiums have fallen due to increased supply and softened demand. In another development, Zambia's Maponi Copper mine is
