Mining Companies Exploration and Investment News

Copper production in Zambia, Africa’s largest copper producer, fell 13 percent in January 2010 compared with January 2009 due to earlier mine closures but analysts said there were good prospects for higher output.

Zambia has previously said copper production could hit 1.0 million tonnes by 2011 as new mines come on stream and expansions and upgrades take place at existing mines.

Its copper production declined to 54,518 tonnes in January this year from 62,621 tonnes in the same month last year, the central bank said on Tuesday.

Copper exports in January 2010 increased to 56,676 tonnes versus 55,199 produced in 2009, the Bank of Zambia (BOZ) said. (continue reading…)

Shares of gold and copper exploration companies are the most likely to shine in the Canadian junior mining sector this year, as large miners raise their exploration budgets and scout for promising projects.

Small-cap stocks on the TSX Venture exchange enjoyed a strong run last year with the S&P/TSX Venture Composite Index gaining more than 90 percent through the course of the year.
(continue reading…)

BlackRock-managed Global Mining Investments Ltd has a preference for copper, gold and iron ore as China leads a global recovery in commodities markets but is negative on aluminium because of oversupply, the firm’s chief said on Tuesday. (continue reading…)

Sumitomo Metal Mining Co., Japan’s second-biggest copper producer, may maintain a production cut of 10 percent in the year from April 1 because of lower processing fees, a spokesman said.

“We are considering keeping the output cut because of worsening terms of processing fees” to turn raw material, so- called concentrate, into refined copper, Naonobu Hayakawa, a spokesman for Sumitomo Metal Mining Co., said today by phone. “We will announce our formal production plan on April 1.”
(continue reading…)

Asian stocks fell as China’s Industrial Bank Co. predicted slower growth in new lending, while the euro retreated on speculation the European Central Bank will delay withdrawing stimulus measures.

The MSCI Asia Pacific Index dropped 0.7 percent to 119.97 as of 5:10 p.m. in Tokyo, after a four-day, 3.3 percent climb. (continue reading…)

Asian stocks climbed for a second day as JPMorgan Chase & Co. boosted ratings on Japan’s largest banks and as mining companies climbed on higher metal prices.

Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. advanced more than 1.5 percent in Tokyo. Jiangxi Copper Co. surged 5.8 percent in Hong Kong as copper prices jumped after an earthquake in Chile cut supplies from the world’s top producer of the metal. (continue reading…)

The following companies may be active in Russian trading. Stock symbols are in parentheses and share prices are from the previous close of trading in Moscow.

The 30-stock Micex rose 0.7 percent to 1,332.64 at the close of trading in Moscow. The dollar-denominated RTS Index increased 1.5 percent to 1,410.85.
(continue reading…)

An earthquake in Chile is estimated to affect copper production, because Chile is one country that has a production capacity of copper is large enough. Copper mining company in Chile has signed several contracts for copper production to be in supply to several industrial sectors using copper. To know the effect of an earthquake in Chile for copper production, the following are comments from the analyst at Standard Bank.
(continue reading…)