Archive for the ‘Copper Mining’ Category
Southern Copper Copper is planning to increase production
(Andina) Southern Copper Corporation (SCC) announced today that its copper production will be 630 000 tonnes during the current year, representing an increase of 26 percent over 2010 production, and of that amount to three per percent corresponds to the production of others.
He said copper production of the company during the fourth quarter of 2010 increased 3.5 percent to 130.553 tonnes compared to 126.087 tons in the fourth quarter of 2009.
According to an important fact sent to the National Supervisory Commission for Companies and Securities (Conasev), the Toquepala mine production (Tacna) increased to 37.446 tons, compared to 35.166 tonnes in the fourth quarter of 2009 due to higher grades ore and recoveries.
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Gold and Copper Mining
Gold slipped on Friday on the London market to a minimum of two months, amid expectations in some quarters that economic recovery is gaining momentum, although a weaker dollar held back the fall.
Experts indicated that the interest in gold among investors is dissipating some economic data after better-than-expected U.S. and alleviating concerns about sovereign debt in the euro zone.
“We are still above the long-term uptrend, but definitely at this time the reasons to buy gold: fears of a deepening crisis in Europe, the weak dollar, fears over the global economic crisis, inflation, are not present, “said Eugen Weinberg, analyst at Commerzbank.
“In fact gold is used as an indicator of fear and that fear seems to be abandoning the market, so the price of gold is under pressure. However, still believes that gold will rise in 2011. ” Read the rest of this entry »