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Copper: Chile needs USD 150 billion to increase production
According to energy and mines minister Juan Carlos Jobet, Chile, a mining powerhouse, needs $150 billion in investment to reach its goal of doubling copper production by 2050, part of a larger plan by the world’s leading copper producer to increase production...
Iron ore: price falls on negative outlook for China
Iron ore prices moved lower as the market weighed an upcoming seasonal pick-up in Chinese demand against the prospect of a broadly weakening economy and further restrictions on steel production. The price had regained ground after the July slump, with the upcoming...
Nickel: new record in Shanghai on strong demand and low stocks
Nickel prices in Shanghai hit a new record on Tuesday, supported by solid demand from industrial sectors and low inventories worldwide. October’s most-traded nickel contract on the Shanghai Futures Exchange hit a record 149,870 yuan ($23,197) a tonne, up 21%...
Rio Tinto cuts rates on loans to Mongolia for Oyu Tolgoi expansion
Rio Tinto says it is ready to cut interest rates on loans to the Mongolian government given to finance its share of the construction costs of an underground expansion at the vast Oyu Tolgoi copper-gold mine in the Gobi Desert. In return, the company wants several...