Codelco on US$1bn cost-cutting driveFri, 30 Jan 2015 22:20:00 GMT
The firm plans to save US$1bn and ramp-up production of copper in cathodes by 35,000t this year, which will increase revenue by US$200mn, Pizarro said during a press conference. The savings program is a response to a request made by Codelco's board ...
Codelco aims to cut 2015 costs by $1 bln as copper price plummetsFri, 30 Jan 2015 17:20:40 GMT
World No.1 copper miner Codelco will look to slash costs by $1 billion in 2015, Chief Executive Nelson Pizarro said Friday, as the price of the base metal slumped to multi-year lows. It is seeking to cut direct cash costs by some $0.193 per pound of copper at its operations, Pizarro told journalists. Still, none of the Chilean state-run copper miner's large investment projects will be at risk ...
Column-metals Poll Shows Even The Losers Can Be Winners: Andy HomeFri, 30 Jan 2015 12:19:04 GMT
Copper emerges as the apparent bear stand-out in the latest Reuters poll of base metals analysts. What was once the darling of the investment community is the only metal expected to average a lower price ...
Copper prices start the year with a sharp fallFri, 30 Jan 2015 09:37:00 GMT
Copper prices fell sharply at the start of the year ... where lower supply of high-grade scrap led to the use of more cathode. In addition, demand in China was driven by the ongoing expansion of the nations electricity grid infrastructure.
Copper down after Fed meeting, inventories riseFri, 30 Jan 2015 05:08:21 GMT
LONDON: Copper and other metals prices fell on Thursday on worries about excess supply and after US central bank authorities gave more signals of a looming rate hike.
Cochilco makes copper price forecastFri, 30 Jan 2015 04:09:46 GMT
Chilean state copper commission Cochilco has lowered its 2015 forecast for the price of copper to US$2.85/lb from its previous forecast of US$3/lb , mainly because of deteriorating conditions in international markets for the red metal.
Iron Ore, Copper Keep Heading DownFri, 30 Jan 2015 00:16:00 GMT
While growing global supply of metals has long been a concern, prices had been somewhat supported by solid demand from China. For several years after 2000, an apparently relentless rise in Chinese metal consumption raised expectations of a supercycle ...
Copper, nickel down after Fed meeting, inventories riseThu, 29 Jan 2015 23:51:48 GMT
LONDON: Copper, nickel and other metals prices fell on Thursday on worries about excess supplies and after US central bank authorities gave more signals of a looming rate hike which could tighten market liquidity.
MMG to begin pre-extraction at Las Bambas despite copper routThu, 29 Jan 2015 23:17:00 GMT
Copper weak prices, with the metal approaching a fresh five-year low early this week, have done nothing to discourage completion of MMGs Las Bambas in Peru, one of the world's biggest mines of the red metal. According BNamericas (in Spanish ...
Kazakhmys 2014 Copper Cathode Output From Cont. Opns RiseThu, 29 Jan 2015 00:22:00 GMT
LONDON (dpa-AFX) - Kazakhmys Plc. (KAZ.L), the largest copper producer in Kazakhstan, reported that its Copper cathode output from continuing operations rose by 9% in 2014 to 83.5 kt, supported by an increase in recovery rates at the Nikolayevsky concentrator.
Copper futures fall on weak global cues, subdued demandWed, 28 Jan 2015 22:53:00 GMT
NEW DELHI: Copper prices fell by 0.65 per cent to Rs 335.55 per kg in futures trade today as speculators reduced their positions amidst weak global cues. At the Multi Commodity Exchange, copper for delivery in February fell by Rs 2.20, or 0.65 per cent ...
Copper market in a tailspinWed, 28 Jan 2015 18:56:24 GMT
The New Year 2015 so far has been far from friendly to copper even as huge sell-off and languishing prices have become the defining feature.
Copper, aluminium supply seen shrinking over next two yearsWed, 28 Jan 2015 18:52:57 GMT
LONDON: The global copper market oversupply is expected to shrink this year and next, helping cushion prices of an industrial metal that has suffered due to slowing growth in top consumer China, a Reuters poll showed.
Copper reboundsWed, 28 Jan 2015 14:34:00 GMT
All of the six main industrial metals on the LME rose, except lead. Copper is heading for the biggest monthly drop since 2011 after falling 12% in January after the World Bank cut its forecast for the global economy amid weakness in Asia and Europe.
Copper edges higher ahead of Fed meetingWed, 28 Jan 2015 14:11:31 GMT
LONDON: Copper rose on Wednesday, rebounding further from 5-1/2-year lows as the dollar eased off highs and traders took the opportunity to buy at still low prices ahead of the conclusion of a Federal Reserve meeting.