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Copper: exploration budgets increase
Total copper exploration budgets increased by 21% to just under USD 2.8 billion in 2022, the highest level since 2014. The increase was driven by the strong recovery in the price of copper after hitting multi-year lows at the start of the global pandemic. Copper...
Nickel: Trafigura suffers $577 million loss
Commodities trader Trafigura Group will incur an expense of almost half a billion dollars in the first half of 2023, after discovering that some nickel cargoes purchased did not contain the metal they were supposed to. The Geneva-based company said the 'systematic...
Aluminium: Glencore deposits more Russian metal in the LME system
According to market sources, commodities trader Glencore has deposited over 100.000 tonnes of aluminium in warehouses registered by the London Metal Exchange in the South Korean port of Gwangyang. Rusal produces aluminium in Russia and accounts for 6% of global...
Copper: Glencore reopens Antapaccay mine in Peru
Glencore has resumed operations at its vast copper mine in Antapaccay, Peru, which had been closed for 11 days due to security concerns following violent attacks by locals. The mine was closed on 20 January after the third attack on the site in a month. A spokesman...