Unionized workers of Panama Mininga subsidiary of the Canadian First Quantum Minerals (FQM) and disqualified by a court ruling by the Panamanian Supreme Court last November, asked the Government to find “a solution as soon as possible“on the current situation of the mine, while demanding clarification of what is happening with the copper concentrate still […]
Tag: copper
“Aunt Maria is going?”, by José De Echave
This week, the mining project Aunt Maria was back on the front page. Surprisingly, an internal company memo announcing “the resumption of activities in the Tía María project on July 1, 2024” was leaked on social media and in the press. It should be noted that, in the long history of conflicts against mining projects […]
The effect of the restart of Tía María on the local mining project portfolio
Following up on the announcement by Raúl Jacob, vice president of finance at Southern Perú Copper Corporation, Tía María has resumed operations in Peru with a view to turning the company into one of the most important copper producers (a metal currently quoted at over US$4.4 per pound) in the region and the world. But […]
Copper rises after US economic data and Powell comments
He copper fluctuated between losses and small gains after four days of advances driven by optimism about the prospects for U.S. interest rate cuts. Industrial metals were up 0.2% at 6:04 p.m. in London, erasing an earlier drop of as much as 0.7%. U.S. Federal Reserve Chairman Jerome Powell said earlier this week that inflation […]
Panama’s new president sets conditions for resuming large copper mine project
The new president of PanamaJosé Raúl Mulino, said Monday that his plan to temporarily reopen a large Canadian-owned copper mine, closed last year amid a legal and social controversy, will depend on the outcome of an environmental study on its status. Mulino has said that one of the options to deal with the mine is […]
Informal copper mining advances in Peru due to high international prices
The high prices of international copper have boosted the informal mining of this metal in Peru, a phenomenon that normally does not occur, as it does with gold, according to recent research by the CooperAcción group. With prices that have recently broken the barrier of US$10,000 per ton, some estimates indicate a doubling or even […]
Southern Perú parent company rules out starting construction of Tía María in 2024
Grupo México SAB, majority shareholder of Southern Cooper Corporation, ruled out starting the construction of the Tía María copper project (Arequipa) at the end of 2024, as the financial vice president of its branch in Peru, Raúl Jacob, had suggested for local media. Through a letter sent to the Superintendency of the Securities Market (SMV) […]
Copper breaks all records above US$11,000 MT: it rises more than 25% so far this year
The red metal rebounds amid China’s efforts to revive the real estate market. The International Copper Study Group (ICSG) recently cut its surplus supply forecasts for the metal this year. Join the WhatsApp channel Price of the dollar today in Peru: what is the exchange rate for this Monday, May 20 Attention! AFP 2024 retirement […]
Chile raises its GDP projection for 2024 due to the price of copper
The Government of Chile raised its national GDP growth projection for this year from 2.5% to 2.7% this Tuesday, an upward revision that is explained by the good data for the first quarter and an expected higher price of copperthe main export of the South American country. “This improvement reflects the momentum accumulated since mid-2023 […]
MEF: collection in the coming months will depend on the evolution of copper prices
After growing 4% in April 2024 compared to the minimum levels reached in the same month last year, the Peruvian Government also aims to strengthen the application of measures to reduce tax non-compliance. Join the WhatsApp channel Price of the dollar today in Peru: what is the exchange rate for this Wednesday, May 8 Banco […]