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Southern Copper strike temporarily delayed - 0 views

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    A strike planned to start on Monday at Southern Copper's Peruvian mine Cuajone has been temporarily suspended pending mediation, officials from the company and union said. Southern, one of the world's largest copper producers, has been hit by strikes this year in Peru as workers demand a larger slice of the country's economic boom. Union leaders had planned to go on strike again because the company had threatened to fire about a dozen workers for participating in recent walkouts. But Roman More, head of the union at Cuajone, said the strike slated for Monday was called off as the company agreed to sit down with workers and the government for talks on Tuesday. Unions from the company's Ilo smelter and Toquepala mine were also expected to participate. "We are going to meet on Tuesday to see if we can reach an agreement about the firings. The meetings were requested by the government," More said. Alberto Giles, the company's human resources director, said the strike plans were scrapped. "In the case of Cuajone ... they suspended the strike plan," he said. "With regards to Ilo, the strike was supposed to start on Wednesday, but I don't think there will be a strike. I think the strike will also be canceled at Ilo." Cuajone, which produced some 148,939 tonnes of copper last year, is Southern's biggest mine in Peru, the world's No. 2 copper producer.
Colin Bennett

Financial crisis hits some Peru mining projects - 0 views

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    Like Inca Pacific, Southern Copper Corp, Candente Resources, Strike Resources Ltd and Newmont Mining Corp (NEM.N: Quote, Profile, Research, Stock Buzz) have complained of having to reexamine or delay their projects in Peru because of the global crisis. Southern Copper has said plans for its Los Chancas would be evaluated, and that it may consider dipping into dividends for project funding.
Colin Bennett

Southern Copper interested in jv with Anglo American to develop Peru copper project - 0 views

  • Southern Copper Corporation (SCC) is interested in discussing a potential investment with Anglo American in Peru’s Quellaveco copper project, it said recently.
Colin Bennett

Southern to Reach Full Copper Production Next Year - 0 views

  • Southern Copper Corp., which won control this week over its largest mine in Mexico after a three- year strike, expects to reach full production capacity next year, Chief Executive Officer Oscar Gonzalez Rocha said today.
Colin Bennett

Southern Copper Corp: 2010 Copper Output Seen 500,000 Tons - 0 views

  • Southern Copper Corp. ( PCU | Quote | Chart | News | PowerRating) expects to produce about 500,000 metric tons of copper in 2010, following mined output of about 483,376 tons in 2009, a high-level official said. Speaking on a conference call on Tuesday, chief financial officer Genaro Guerrero said the forecast doesn't include any production from the Cananea mine in Mexico, which has been closed due to a labor dispute.
Colin Bennett

Southern Copper Q4 profit $363.4 million against loss a year ago - 0 views

  • Southern Copper, one of the world's largest copper producers, said it would invest $2.8 billion during the next three years to develop new capacity and that the program would lift annual output by 342,000 tonnes of copper and 6,600 tonnes of molybdenum. Of that investment total, $1.8 billion is earmarked for Peru and $1 billion for Mexico. Some $600 million is scheduled to be spent in Peru during the 2010 fiscal year, while roughly $200 million is tagged for Mexico, the company said. Among the projects Southern Copper said are progressing are its Toquepala expansion and the Tia Maria development in Peru.
Colin Bennett

Southern Copper 2Q profit falls 24% - 0 views

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    LIMA, Peru -- Peru's Southern Copper Corp. on Thursday said second-quarter \nprofit fell 24 percent from the year-ago period amid strikes and higher fuel and \nproduction costs.
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$6bn to be spent on Africa cable projects over two years - BMI-Tech - 0 views

  • Companies would spend more than $6-billion on submarine and terrestrial fibre optic cable infrastructure projects in Africa over the next two years, as countries scramble to boost international connectivity, market analysis firm BMI-TechKnowledge (BMI-T) said on Wednesday. In its latest research report, entitled ‘Outlook for submarine and terrestrial fibre-optic cable developments in Africa', BMI-T said that the effective high-speed internet services required for critical business, government and consumer applications have remained either unavailable or very expensive in Africa. Governments' awareness of this situation, and the perceived commercial attractiveness of the opportunity to close this gap, has given rise to the current frenetic activity for construction of submarine fibre cables on the continent.
  • Investment in Africa's ICT infrastructure has improved significantly over the past decade. However, marked deficiencies persist in the backbone networks across the continent. "Although countries on the African west and southern coasts have access to fibre connectivity through the SAT-3 undersea cable, an estimated 80% of Africa's international voice and data traffic is carried via satellite," said Chanakira
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    Companies would spend more than $6-billion on submarine and terrestrial fibre optic cable infrastructure projects in Africa over the next two years, as countries scramble to boost international connectivity, market analysis firm BMI-TechKnowledge (BMI-T) said on Wednesday. In its latest research report, entitled 'Outlook for submarine and terrestrial fibre-optic cable developments in Africa', BMI-T said that the effective high-speed internet services required for critical business, government and consumer applications have remained either unavailable or very expensive in Africa. Governments' awareness of this situation, and the perceived commercial attractiveness of the opportunity to close this gap, has given rise to the current frenetic activity for construction of submarine fibre cables on the continent. Investment in Africa's ICT infrastructure has improved significantly over the past decade. However, marked deficiencies persist in the backbone networks across the continent. "Although countries on the African west and southern coasts have access to fibre connectivity through the SAT-3 undersea cable, an estimated 80% of Africa's international voice and data traffic is carried via satellite," said Chanakira.
Colin Bennett

Southern Copper CEO Sees Return to $4 Copper on U.S. Demand - 0 views

  • Nov. 4 (Bloomberg) -- Copper prices may rebound to $4 a pound next year because of recovering economic growth in the U.S. and Europe and a lack of new supply, Southern Copper Corp. Chief Executive Officer Oscar Gonzalez Rocha said.
Colin Bennett

Copper production in Zambia on track for 1.5m tonnes in 2017 - 0 views

  • According to The Africa Report new projects due to come on stream include the expansion of the Lumwana mine, Canadian firm First Quantum's $2 billion greenfield Trident project, China Nonferrous Mining Corporation's $832m project and the Lubambe mine – a joint venture by Brazil's Vale, South Africa's African Rainbow Minerals and state-owned ZCCM Investments.
Colin Bennett

Southern Copper optimistic on growing copper demand - 0 views

  • He said that during Q2, global copper demand was up 4.8% QoQ thanks to demand from emerging economies led by China and a recovery in physical consumption in the US and Europe. During the Q2 of this year, US and European demand for fine copper increased by 22% and 4% respectively when compared to the Q1 of this year. These are very positive developments that support our conviction of higher physical demand from now on. In addition, copper production has not grown at the same rate as demand which will further support prices for the red metal. He added that a clear sign of this is the consistent reduction of the combined copper inventories of the London Metal Exchange, COMEX and Shanghai warehouses. At their latest peak in February this year combined inventories were 815,000t." According to Chilean state copper commission Cochilco's weekly report, global stocks stood at 609,478 tonnes.
Emma james

PetroChina to construct three oil products pipelines in China - Energy Construction - 0 views

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    The three pipelines, the Anning-Kunming-Qujing line, the Anning-Chu xiong-Dali-Baoshan line and the Anning-Yuxi-Mengzi-Wenshan line, once complete, will pump oil products to northeastern, northwestern and southern parts of Yunnan province.
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General Motors, Utilities to Cooperate on Electricity Grid Research for Cars : Climate ... - 0 views

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    General Motors Corp., along with a consortium of more than 30 utilities and a non-profit electric industry research group, has struck a deal to forestall potential problems when the company introduces its new electric vehicle to the nation's showrooms. An EPRI official also emphasized the grid aspects of the collaboration. Said Arshad Mansoor, the organization's vice president of power delivery: "Seemless integration of [plug-in hybrid electric vehicles] into the electric grid will require close collaboration between the automobile and electric sectors." The statements from EPRI and the car company also address safe and convenient vehicle charging, public education and other public policies, including codes and standards. Among the utility participants in the collaboration are Consolidated Edison of New York, Duke Energy, First Energy Corp., Pacific Gas & Electric Co. and Southern California Edison Co. Others are listed as part of the EPRI statement. The research organization last year released a report along with the Natural Resources Defense Council that concluded plug-in hybrids had the potential to lower greenhouse gas emissions. GM, meanwhile, emphasized the cost benefit of the new vehicles, saying consumers could find that the per-mile expense of an electric vehicle would be about one-fifth that of a gas-powered car.
Colin Bennett

China to build $400M smelter in Trinidad: Associated Press Business News - MSN Money - 0 views

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    PORT-OF-SPAIN, Trinidad (AP) - China will help build a $400 million aluminum smelter in Trinidad's southern region, according to the leader of the Caribbean island.
Glycon Garcia

Brazil hands Chinese state-owned company 2GW deal | Log in to Windpower Monthly - 0 views

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    "Brazil hands Chinese state-owned company 2GW deal Wu Qi, Windpower Monthly Magazine, 14 December 2010, 11:13am BRAZIL: Chinese state-owned turbine manufacturer Xuji Wind Power is to develop 2GW of wind farms in the southern Brazilian state of Santa Catarina. "
Colin Bennett

Xstrata ups Tampakan mineral resource estimate 9% - 0 views

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    "MANILA, Oct 20 (Reuters) - Global miner Xstrata Plc (XTA.L) has boosted an estimate of mineral resources at its $5.2-billion Tampakan copper-gold project in the southern Philippines to 2.4 billion tonnes from 2.2 billion, the firm said on Tuesday."
Colin Bennett

Prysmian 500kV submarine power cable project in China - 1 views

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    "The new Hainan interconnection comprises four HVAC (High Voltage Alternating Current) 500 kV single core SCFF (self-contained fluid filled) cables to be laid under the Qiongzhou Strait in southern China, along a 32-kilometer route."
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Solar industry fights utility's big solar project - 1 views

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    When Southern California Edison unveiled plans to install 250 megawatts' worth of solar panels on warehouse roofs back in March, it was hailed as a ground-breaking move. In one fell swoop, the giant utility would cut the cost of photovoltaic power, expand the solar market and kick-start efforts to transform untold acres of sun-baked commercial roof space into mini-power plants. There's just one problem: the solar industry is fighting the billion-dollar plan. In briefs filed with the California Public Utilities Commission, solar companies, industry trade groups and consumer advocates argue that allowing a utility to own and operate such massive green megawattage will crowd out competitors who can't hope to compete with a project financed by Edison's ratepayers. (In California, shareholders of investor-owned utilities are guaranteed a rate of return for approved projects, while utility customers bear a portion of the costs in the form of higher rates.) The five-year plan "would establish SCE as the monopoly developer of commercial-scale distributed solar in its service territory," wrote Arno Harris, CEO of Recurrent Energy, a San Francisco company that sells solar electricity to commercial customers. "This would irreparably impair the development of a competitive solar industry."
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