Copper – CNBC reported that a drop in copper prices combined with higher operating costs hit Antofagasta's Q1 profit.
Articles Tagged "Antofagasta"
Copper – Chile’s copper output could hit a new record this year as BHP Billiton squeezes more life out of the world’s largest copper mine, Escondida. As such, the company may be complicit in tipping the global supply-demand balance into a surplus — and ultimately putting pressure on copper prices.
As share prices stagnate on the back of tough markets, resources companies are trying new tricks to attract investor interest.
Copper – Reuters reported that Antofagasta plc (LSE:ANTO) has submitted its Chile-based Oxidos Encuentro copper project for environmental approval. The project is worth $600 million and the company hopes for initial production to start in 2016.
Moly – We’re nearing the end of earnings season in North America, and some producers of molybdenum have reported stronger results compared to the same period a year ago.
Copper – Bloomberg reported that copper miner Antofagasta's 9-month profit shot up 13 percent, buoyed by an increase in output.
Copper – Lara Exploration (TSXV:LRA) reported that it has entered into a Atrategic Alliance Agreement with Antofagasta Minerals in which Antofagasta will invest $1,200,000 over a 2-year period to fund a joint generative exploration for copper in Brazil.
Copper – Copper traders are taking a wait-and-see approach ahead of Friday's speech from the Federal Reserve chairman. The red metal did, however, get some lift from China's continued commitment to buy European government bonds as a means to stabilize the Eurozone.
Copper – The European Central Bank's decision to keep interest rates unchanged and not provide new stimulus measures has put a damper on copper demand, as has the Federal Reserve's decision not to pursue further quantitative easing, at least for now.
Copper – Tepid bargain hunting is nudging copper prices up, but investors remain wary about the economic outlook in Europe and the United States. Still, hopes are rising that central banks will intervene to jump start these ailing economies.