Copper News Hubb
Advertisement Banner
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact
No Result
View All Result
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Copper news

Panama Breakthrough adds to Good News for Global Copper supplies

admin by admin
March 3, 2023
in Copper news


A breakthrough in contract talks at a mine in Panama is the latest piece of good news for global copper supplies following resumption of operations at a giant Indonesian mine and easing tensions in Peru.

Panamanian officials are “very close” to reaching an agreement with First Quantum Minerals Ltd. over a new contract for the Cobre Panama mine, said Ebrahim Asvat, a lawyer advising the government in the negotiations. A deal could be reached within two weeks, he said.

That would end a months-long dispute that culminated in the suspension of exports and ore processing at a mine that accounts for about 1.5% of the world’s copper production. The apparent breakthrough would also avoid dire consequences for First Quantum’s bottom line and Panama’s reputation as an investor-friendly jurisdiction.

It also comes just days after Freeport-McMoRan Inc. boss Richard Adkerson told an industry event that Grasberg is operating again after a landslide disrupted the Indonesian copper and gold complex, and that the company’s mine in Peru had returned to normal production after slowing mill operations by 10% to 15% amid anti-government protests.

There was also some relief in Chile Tuesday when the top-producing nation reported a year-on-year increase in monthly output after a series of operational setbacks and disappointments.

Just as those disruptions had supported copper prices in a recent pullback fueled by demand concerns, it stands to reason that a return to normal programing at some of the world’s biggest mines will offset some of the bullish sentiment derived from positive signs out of China.

SOURCE:minig.com

Visits:212 Today: 212 Total: 5181543



Source link

Previous Post

Austral Gold divests Argentinian silver-gold project to E2 Metals

Next Post

Ta Khoa Project Development Update

Next Post

Ta Khoa Project Development Update

Recommended

First Quantum Minerals Reports Fourth Quarter and Year-End 2022 Results

1 month ago

RWE, Hyphen sign MoU for offtake of 300 000 t/y of green ammonia from Namibia

4 months ago

India to start exporting coal by 2026

13 hours ago

CREFDL calls for Suspension of Negotiations on $500M promised by Sicomines in DRC amidst Chinese Contracts

3 weeks ago

San Finx Water Discharge Permit Is Awarded

2 months ago

The World’s Top 5 Richest Diamond Mines

3 months ago

© Copper News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact

© 2022 Copper News Hubb All rights reserved.