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Copper: Codelco reaches union agreement with Salvador mine
Codelco, the world's largest copper producer, reported Thursday that it has reached an agreement with its union at the small Salvador mine. A 36-month agreement that will not include wage adjustments, but will include a $4,980 bonus for each union member, in addition...
Copper: Freeport production below expectations
Freeport-McMoRan Inc. produced less copper than expected last quarter from its mines in the Americas, adding to concerns about a tense global market that has seen prices soar to record levels. The largest listed copper miner produced 987 million pounds of the metal in...
Copper: inventories in warehouses are getting low
The problem stems from the physical nature of the LME: anyone who holds a contract to maturity becomes the owner of a package of metal in an LME warehouse. On the other hand, anyone who has sold one has to deliver the metal when the contract expires. But with copper...
Magnesium: global shortage could cripple automotive industry
The world's leading carmakers are facing a disruption in global supplies of magnesium as China's energy crisis threatens the availability of the key component used to make aluminium. European magnesium stocks have been particularly hard hit by the lack of supplies...