Thursday, January 18, 2018

IvanPlats said it would not be affected by a decree reportedly signed by two Congo ministers prohibiting the export of copper concentrate from the country.

Copper has hit a three-week high, lifted by fund allocations at the start of the year and by an expansion in China's manufacturing activity.

Barclays Capital expects copper prices to rise by around 10% from current levels, while gold prices are projected to climb above $2,000 an ounce by the third quarter.

China's copper smelters and BHP Billiton have settled 2012 term copper concentrate treatment and refining charges at $60 a tonne and 6 US cents a pound.

BHP Billiton fails to shine in its September quarter and declares force majeure at its Olympic Dam uranium and copper mine.

The government of the Democratic Republic of Congo has claimed First Quantum Minerals has been conducting a smear campaign against it.

Guinea's production of bauxite slumped more than a fifth according to a government report which blamed the decline on "institutional instability".

South African crude steel production is up 51.1% year-on-year to an estimated 710 000 metric tonnes in January, the World Steel Association reportes.

Xstrata, the biggest exporter of power-station coal, has resumed work on a A$6bn mine after Australia reduced a planned resource profits tax, says Bloomberg News.

Democratic Republic of Congo may review its decision to cancel a copper and cobalt project in which First Quantum Minerals is the majority stakeholder.