Category: International

Following Friday’s 18.01.2023 attack that set on fire a worker housing area, Glencore announced that it has halted operations at the Antapaccay copper mine in southern Peru. In a media statement, the company said that the incidents endangered the safety of its employees and, therefore, authorities should start taking action to safeguard people’s integrity and private property rights.  According to the Swiss miner, a group of citizens from the Espinar province, where Antapaccay is located, arrived at the site Friday noon and demanded that operations be stopped and that the firm issue a… Read More Here

Glencore’s massive Antapaccay copper mine in Peru faced its latest disruption on Friday, 20.01.2023 as a fire spread through a nearby worker housing area which is believed to have been started by protesters, a source familiar with the matter told Reuters. Video footage published by the company on its Facebook page shows people putting flammable material near one of the mine’s fences. The attack comes as growing political and social unrest grips Peru, following weeks of angry and sometimes violent antigovernment protests triggered by the ouster of the country’s president last month.… Read More Here

Copper prices are set for another rally this year thanks to surging demand, supply concerns and the metal’s widespread use in energy transition technologies, Eurasian Resources Group’s (ERG) chief executive officer told Reuters. “Whatever the winning technologies for batteries, EVs (electric vehicles), renewable energy, etc, will be in the future, they all need copper,” Benedikt Sobotka said on the sidelines of the World Economic Forum’s annual meeting in Davos, Switzerland. “I am very long copper,” Sobotka said in an interview with the Reuters Global Markets Forum, adding he expected a 10%-20%… Read More Here

The copper price rose on Wednesday 18.01.2023 to its highest levels since June as speculators bet that low inventories and rising Chinese demand will lift prices. Copper for delivery in March rose on the Comex market in New York, touching $4.35 per pound ($9,581 per tonne), up 3% compared to Tuesday’s closing. Investors believe China’s lifting of covid-19 restrictions will enable its economy to bounce back from last year’s slump. Demand will improve, said BMO analyst Colin Hamilton. “It (copper) is running a little bit ahead of fundamentals, but there’s just… Read More Here

On the rise in the global market, copper was trading at 9,188.85 USD on Friday, January 20, 2023. Based on indications from the London Stock Exchange, copper is trading at USD 9,188.85 per tonne as of Friday, January 20, 2023. Although the valid reasons are not mentioned for this increase of almost 600 USD, experts in the sector inform that the giant of the trade Trafigura plans to withdraw a significant volume of copper from the stores of the LME. The metal should stay on the continent, say the same… Read More Here