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Cochilco holds 2019 copper forecast at $3.05/lb

By: Reuters     18th April 2019 Chile's Cochilco State copper commission on Thursday held its estimate for the price of copper at $3.05/lb, rising slightly to $3.08 for 2020 on improving prospects for growth in China. Cochilco said it saw production in Chile, the world´s top copper producer, at 5.96-million tonnes for 2019 and... 

Tianqi Lithium to nominate two Chileans, US executive to SQM board

By: Reuters     17th April 2019 China's Tianqi Lithium said on Wednesday it would nominate a Chilean economist, a Chilean attorney and a US executive as candidates to the board of top Chilean lithium producer SQM, in which it owns a near-24% stake. Tianqi has nominated Chilean attorney Francisco Ugarte, who represented the... 

After 40 years, Chile copper giant is struggling to stay on top

By: Bloomberg     16th April 2019 Over more than a century, miners have been digging an open pit in northern Chile that’s now more than four times the size of New York’s Central Park. The Chuquicamata mine has helped Codelco dominate the copper market as the world’s number one producer of the metal. Now, the state-owned company... 

Lithium giant lifts outlook with 2018 fizzle in rear-view mirror

By: Bloomberg     15th April 2019 Two months after disappointing the market with its annual results, the world’s second-largest lithium miner said an expansion is faring better than expected and sales probably will beat its forecasts for this year. Santiago-based Soc. Quimica y Minera de Chile SA will exceed its sales target of... 

Copper industry to see more disruptions in 2019 – Antofagasta CEO

By: Reuters     12th April 2019 The global copper industry will be rocked by more disruptions this year than in 2018, contributing to a supply deficit as demand for the red metal continues to grow, the top executive of Chilean miner Antofagasta told Reuters. Antofagasta CEO Ivan Arriagada said labour strife, extreme weather... 

Tianqi agrees truce in battle over Chilean lithium miner SQM

By: Reuters     11th April 2019 China's Tianqi Lithium has come to an agreement over the governance of Chilean miner SQM with key shareholder Pampa Group, easing away from hostilities over control of the world's second-biggest producer of lithium. Tianqi's $4.1-billion purchase of a 23.77% stake in SQM, which mines lithium... 

Revitalising its copper mines may not be sufficient to keep Chile at the fore

By: Reuters     11th April 2019 Codelco and other copper mining giants are set to plow billions of dollars into the revitalisation of Chile's mines, but that may not be enough to keep the country from losing ground to competitors elsewhere in the world. Demand for copper is widely expected to take off by the mid-2020s amid a... 

From turbines to thermostats: Copper miners eye high-tech demand

By: Reuters     11th April 2019 Growing demand for smart thermostats, wind turbines and other high-tech devices is expected to keep copper the dominant material used in electrical components, industry players said, offsetting rising use of aluminum, a cheaper alternative to conduct electricity. That bodes well for the likes of... 

Codelco 'perfectly well' financed for next two years - chairman

By: Reuters     11th April 2019 Chile's Codelco, the world's biggest copper producer, is "perfectly well financed" for the next two years as it pushes forward with its largest-ever drive to revitalize its aging mines, chairperson Juan Benavides said on Wednesday. State-owned Codelco, which produces nearly one-tenth of the... 

Freeport plans no dividend hikes, M&A for 2 years to focus on Grasberg - CEO

By: Reuters     9th April 2019 Freeport-McMoRan plans no dividend raises, acquisitions or debt buybacks over the next two years as it focuses on expanding Indonesia's Grasberg copper and gold mine underground, its chief executive said in an interview on Tuesday. "For two years, we're going to be focused on this transition,"... 

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