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Nevada Copper announces $71m financing to navigate financial difficulty
Nevada Copper plans to raise, through a bought deal offering of 643.7 million units of the company at C$0.15 per unit, approximately C$97 million (about $71 million) to address the company’s “serious financial difficulty.” The US-focused copper miner has entered into...
Copper price near 2-year high after Chinese imports rocket
In March, the bellwether metal briefly traded below $2.00, levels last seen during the global financial crisis of 2008-2009, but has now recovered by nearly 50%. Customs data released overnight showed China’s unwrought copper imports (anodes and cathodes) in June rose...
Nornickel reports another fuel spill in the Arctic
Russian mining company Norilsk Nickel reported that a pipeline belonging to Norilsktransgaz, which is part of the Norilsk Nickel Group, depressurized during the transfer of aviation fuel in the vicinity of the village of Tukhard, located on the Gydanskii tundra. In...
Labor tensions add to copper’s steady drumbeat of supply threats
The steady stream of supply news fueling copper’s rally continued on Monday, with one Chilean mine reportedly cutting its workforce and another facing a strike. Lundin Mining Corp.’s Candelaria is reducing its headcount by 7% as the coronavirus pandemic spreads in the...