December 2012

Shanghai copper prices up as rebound continues

Copper prices on the Shanghai Futures Exchange rose on Monday December 24, as the recent rebound extended amid expectations of economic policy announcements.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

Xstrata raises capital spending estimate for Frieda River project by $300 m

Xstrata has raised its initial capital spending estimate for the Frieda River copper-gold project in Papua New Guinea by $300 million to $5.6 billion, minority partner Highlands Pacific said on Monday December 24.

Japan's Mitsubishi to move global metals HQ to Singapore

Japan’s Mitsubishi Corp is shifting its metals trading unit to Singapore in order to focus on emerging markets like China and India, it said in a statement on Friday, December 21.

Keeping talent will be key in 2013, says Accenture's Rachael Bartels

The struggle to hold on to talent will be among the biggest challenges for mining companies in 2013, according to Rachael Bartels, global managing director of Accenture’s mining industry group.

Brazil’s energy proposal not enough, says Alcoa

Measures proposed by the Brazilian government to reduce electric energy cost in the country will not be sufficient to improve the industry's competitiveness, Alcoa has said.

Shanghai zinc premiums unchanged; arbitrage window narrows

Zinc premiums in Shanghai were in the range of $120-135 per tonne last week, unchanged from the previous week, although trading was quieter as the arbitrage window narrowed further.

Xstrata’s Lomas Bayas copper mine in Chile gets 16 more years

Xstrata Copper has completed the project to extend the life of its Lomas Bayas mine in Chile by 16 years, the company announced.

Brazilian aluminium output down 6.2% in November

Primary aluminium output in Brazil fell 6.2% year-on-year in November after all producers apart from Novelis cut output, according to the country’s national aluminium association, Abal.

SEC delays decision on BlackRock copper ETF

The US regulator has delayed its decision on whether or not to permit asset manager BlackRock to list and trade shares in a physical copper exchange traded fund.