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Colin Bennett

Xstrata Approve Extension to Copper Mine in Queensland - 0 views

www.azom.com/news.asp

trends copper Xstrata

shared by Colin Bennett on 03 Dec 09 - Cached
  • The decision follows feasibility studies into the construction of a magnetite processing facility and the installation of full scale underground mining operations at EHM that have resulted in a revised Ore Reserve Estimate of 72 million tonnes at a grade of 1.0% copper, 0.5 grams per tonne gold and 22% magnetite. The total tonnage represents a 600% increase over previously published underground reserves. Ore will be mined principally from a major hoisting shaft to be sunk to a depth of 1,000 metres, producing 6 million tonnes per annum of ore at full capacity.
Colin Bennett

2012 demand in China - Luvata - 0 views

www.metalbulletin.com/...contract-in-China-in-2012.html

trends Copper China Luvata

shared by Colin Bennett on 15 Oct 12 - No Cached
  • Luvata has seen a contraction in demand for copper products in China so far in 2012, senior vp and chief procurement officer Bob Kickham told Metal Bulletin on Monday October 8. “We planned for growth but we saw some contraction, and it’s the first year in as many as I can remember where that’s happened,” he said. The outright contraction in sales volumes runs counter to prevailing analysis indicating that China’s end-use demand grew in 2012, albeit at a slower pace than in previous years. China’s apparent usage – not taking into account unreported changes in inventories held by consumers, producers, traders or the State Reserve Bureau – grew by 27% in the six months to July, driven by an 80% increase in net imports, according to the International Copper Study Group (ICSG). But as the ICSG pointed out, anecdotal evidence suggests that bonded stocks in Chinese warehouses have surged during the same period as demand has failed to keep pace with the stronger imports.“I wouldn’t be surprised at all to see that warehouse stocks in China are at the 650,000-700,000-tonne...
Matthew Wonnacott

Revenues rise but profits fall at Gaisky GOK - 0 views

www.akm.ru/...ns4231578.htm

Copper Russia

shared by Matthew Wonnacott on 26 Nov 12 - No Cached
  • Matthew Wonnacott on 26 Nov 12
     
    Gaisky GOK, a subsidiary of UMMC, the Russian miner and producer of copper semis, announced on 26th November that its net revenue for the first nine months of the year increased by 6.89% to RUB12.28B (US$395M). However, the company's net profit fell by 6.4%, to RUB2.53B (US$81M) in the same period compared to a year before. Gaisky GOK is based at the Gaisky field and controls three quarters of the copper reserves in the Orenbursky region of Russia. UMMC manufactures semis products from its Kirov non-ferrous plant and recently acquired a new round rolled production line from German company TUF-CERT according to its website.
James Wright

Japan - Furukawa announces upgraded features on new substitute for copper auto wiring h... - 0 views

www.zaab.jp/...e-harness-using-aluminum-wires

copper products wire harness Japan Furukawa

shared by James Wright on 11 May 12 - No Cached
  • James Wright on 11 May 12
     
    Furukawa Electric announced on 8th May that it has developed a new type of aluminium alloy wire harness that is strong enough to be used in car doors, engine compartments and other locations traditionally reserved for copper wiring harness. The newly announced product features are expected to enter commercial production in 2014.
Colin Bennett

China Changsha unveils US$130 billion municipal investment plan - 0 views

nextbigfuture.com/...sha-unveils-us130-billion.html

trends Copper China

shared by Colin Bennett on 30 Jul 12 - No Cached
  • China is making a second major stimulus push after economic growth slowed to a three-year low of 7.6% in the second quarter. Among them are 66 billion yuan ($10.5 billion) for affordable housing and 26.5 billion yuan ($4.4 bil.) to subsidize sales of energy-efficient appliances. The central bank has also begun loosening bank lending and reserve requirements as inflation has cooled considerably since last year.Other cities have announced plans to subsidize purchase of low-cost housing and efforts to build more and faster roads and railways, push alternative energy, stimulate sales of clean cars, build more hospitals and improve water treatment facilities as part of the stimulus effort.
Colin Bennett

Sweeping changes to Myanmar mining laws planned - 0 views

www.mining.com/nmar-mining-laws-planned-89507

trends copper Myanmar

shared by Colin Bennett on 14 Oct 13 - No Cached
  • Mostly undeveloped, Myanmar also known as Burma is home to vast reserves of oil and gas and minerals and metals, including gold, tungsten, copper, nickel, tin, lithium and precious stones.
Colin Bennett

Afghan minerals mean 'self sufficiency' in 10 years - 0 views

news.bbc.co.uk/...10412085.stm

trends copper Afghanistan

shared by Colin Bennett on 25 Jun 10 - Cached
  • These include vast reserves of oil, gas, copper, gold and lithium.
Colin Bennett

China says it has discarded plan to buy copper for state reserves - 0 views

www.chinapost.com.tw/...China%2Dto.htm

trends copper china

shared by Colin Bennett on 13 Jan 09 - Cached
  • Colin Bennett on 13 Jan 09
     
    BEIJING -- China, the world's largest metal consumer, discarded a plan to buy copper to support domestic smelters because producers are still profitable and inventories aren't high, government and company officials said.
Wade Ren

The end of Bretton Woods 2? - 0 views

blogs.cfr.org/...the-end-of-bretton-woods-2

2008-crisis economics

shared by Wade Ren on 29 Oct 08 - Cached
  • The Bretton Woods 2 system – where China and then the oil-exporters provided (subsidized) financing to the US to sustain their exports – will come close to ending, at least temporarily. If the US and Europe are not importing much, the rest of the world won’t be exporting much.
  • And rather than ending with a whimper, Bretton Woods 2 may end with a bang. In some sense Bretton Woods 2 has been on life support for a while now. China’s recent export growth has depended far more on Europe than on the US. US demand for non-oil imports peaked in 2006. One irony of the past year is that the US was borrowing far more from China that it was buying from China. Campaign rhetoric that the US was paying for Saudi oil with funds borrowed from China isn’t far off – though it leaves out the fact that the US also borrows from Saudi Arabia to pay for Venezuelan, Mexican and Nigerian oil.
  • If Bretton Woods 2 ends in 2009 – if US demand for imports falls sharply in the last part of 2008 and early 2009, bringing the US trade deficit down – it won’t have ended in the way Nouriel and I outlined back in late 2004 and early 2005. We postulated that foreign demand for US debt would dry up – pushing up US Treasury rates and delivering a nasty shock to a housing-centric economy. As Brad DeLong notes, it didn’t quite play out that way. The US and European banking system collapsed before the balance of financial terror collapsed. Dr. DeLong writes: All of us from Lawrence Summers to John Taylor were expecting a very different financial crisis. We were expecting the ‘Balance of Financial Terror’ between Asia and America to collapse and produce chaos. We are not having that financial crisis. Instead we are having a very different financial crisis. Catastrophic failures of risk management throughout the entire banking sector caused a relatively minor collapse in housing prices to freeze up global finance to a degree that has not been seen since the Great Depression. The end result of this crisis though could be rather similar: a sharp contraction in credit, a fall in US economic activity, a fall in US imports and a fall in the amount of foreign financing the US needs.* The US government is (possibly) trying to offset the fall in private demand by borrowing more and spending more — but as of now there is realistic risk that the fall in private activity will trump the fiscal stimulus.
  • ...11 more annotations...
  • Or, to put it more succinctly, Bretton Woods 2, as it evolved, hinged both on the willingness of foreign central banks to take the currency risk associated with lending to the US at low rates in dollars despite the United States large current account deficit AND the willingness of private financial intermediaries to take the credit risk associated with lending at low rates to highly-indebted US households.
  • But now US financial institutions are neither willing nor able to take on the risk of lending even more to US households. For a while the US government was able to ramp up its lending to households (notably through the Agencies) and in the process effectively take over the function previously performed by the private financial system (over the last four quarters, the flow of funds data indicates that the Agencies provided around $800 billion of net credit to US households). But now the US government is struggling to keep the financial system from collapsing. It doesn’t seem like it will able to avoid a sharp fall in the overall availability of credit.
  • It is now clear how the financial sector kept profits up: it took on more risk, as it shifted from borrowing short to buy safe long-term assets (Treasuries and Agencies) to borrowing short to buy risky long-term assets. Leverage in the system also increased (and for some broker dealers that seems to be an understatement), as more and more financial institutions believed that the US had entered into an era of little macroeconomic or financial volatility. The net result seems to have been a truly explosive concentration of risk in the hands of a core set of financial intermediaries in the US and Europe. Securitization – it seems – actually didn’t disperse risk into the hands of institutions able to handle it.
  • I hope that the process of adjustment now underway isn’t as sharp as I fear. The US economy gradually can shift from producing MBS for sale to US investors flush with cash from the sale of safe securities to China and Saudi Arabia to producing goods and services for export – but it cannot shift from churning out complex debt securities to producing goods and services overnight. Indeed, in a slowing US and global economy, improvements in the US deficit will likely come from faster falls in US imports than in US exports – not from ongoing growth in US exports.
  • But right now it looks like there is a real risk that the adjustment won’t be gradual. And it certainly looks like the flow of Chinese (and Gulf) savings to US households over the past few years has produced one of the largest misallocations of global capital in recent history.
  • US taxpayers are going to be hit with a large tab for the credit risk taken on by undercapitalized financial intermediaries. Chinese taxpayers may get hit with a similar tab for the losses their central bank incurred by overpaying for US and European assets as part of its policy of holding its exchange rate down. The TARP is around 5% of US GDP. There are plausible estimates that China’s currency losses will prove to be of comparable magnitude. Charles Dumas puts the cost at above 5% of GDP: “Charles Dumas of Lombard Street Research estimates that China makes 1-2 per cent on its (largely) dollar reserves. It then loses up to 10 per cent on the exchange rate and suffers a Chinese inflation rate of 6 per cent for a total real return in renminbi of about minus 15 per cent. That is a loss of $270bn a year, or a stunning 7-8 per cent of gross domestic product.”
  • Jboss — if some of the Chinese inflow could be redirected into investment in alternative energy, that would indeed be a win/ win. Some infrastructure bank style ideas have promise in my view — basically, the flow that used to go to freddie/ fannie could go to wind farms and the like. I would rather see more adjustment in china (i.e. more investment in Chinese infrastructure) but during the transition, if there is one, to a lower Chinese surplus, redirecting chinese financing toward new energy tech would be offer real benefits.
  • China likes 3rd generation nuclear power. Safe, lower cost than NG or coal, very much lower cost than coal with carbon sequestering, and zero carbon footprint. Wind is about 4X more expensive than our electric costs now. That’s in an area with consistent wind. Solar is worse. I don’t know if we can sucker them into investing in our technical fairy tales. Here’s a easy primer on 3rd gen nukes. http://nuclearinfo.net/Nuclearpower/WebHomeCostOfNuclearPower
    • Wade Ren
      Wade Ren on 29 Oct 08
       
      is this true?
  • btw, solar thermal installations are so easy & affordable to retrofit onto existing structures, it’s amazing that there aren’t more of them here…until you realize that they work to decentralize energy. cedric — china is already doing it in china. they are way ahead of the curve over there. my partner brought back some photos of shanghai — rows of middle class homes each with a small solar panel on top. and that’s just the tip of the iceberg — an architect friend just came back from beijing and wants to move to china (he’s into designing self-powering structures and is incredibly frustrated by the bureaucracy and cost-prohibitive measures in the US).
  • I went to engineering school right after the Arab Oil Embargo, and alternative energy was a hot topic then. All the same stuff you hear of nowadays. They even offered entire courses on it , which I took. Then my first mini career was in the power plant biz, before Volker killed it with interest rates and the Saudies killed any interest in alt. energy with their big oil field discovery. For the last 5 years I’ve been researching what’s changed, and it is frighteningly little. Solar cells are still expensive and only have a 15% conversion efficiency. They developed the new cost reduced film technology, but that knocks down efficiency to 7%. Wind power works where there is wind constantly. Generators are mature technology and are already 90 some percent efficient. Geothermal, tidal, ect. work where they are available. Looks like coal gasification and synfuel is out because it makes too much CO2. Good news is 3rd gen nuclear is way better than 1st gen plants. Hybrid cars are good, and battery technology is finally getting barely good enough for all electric cars to be practical.
  • According to news report today, Japan’s trade surplus is less than 1 billion $ in September 08, a whopping 94% decrease compared to September 07. Does it imply that going forward Japan can not buy as much treasury as before?
Colin Bennett

Mongolia Considers Selling Stakes of Copper, Coal, Gold Assets - 0 views

www.businessweek.com/...f-copper-coal-gold-assets.html

trends copper Mongolia mining

shared by Colin Bennett on 09 Feb 10 - Cached
  • Feb. 9 (Bloomberg) -- Mongolia, the Asian nation with some of the world’s largest untapped mineral resources, is considering setting up separate companies owning the country’s gold, copper and coal reserves and using investment banks to sell shares to global investors, the prime minister said.
Colin Bennett

Chile's Codelco to quantify its lithium reserves - 0 views

mobile.reuters.com/...NewsAndPR_uUSN1821418920091218

trends copper lithium

shared by Colin Bennett on 21 Dec 09 - Cached
  • Chile's state copper giant Codelco said on Friday it plans to carry out a study to see how much lithium lies on its properties, but said it was too early to say if it could eventually begin to produce the metal.
James Wright

France - Nexans announce H1 2011 results - sales up by 8.9% y-o-y - 1 views

www.nexans.co.uk/...1_First_Half_Year_Results.html

wire cable Nexans results

shared by James Wright on 04 Aug 11 - No Cached
  • James Wright on 04 Aug 11
     
    Nexans reported that it saw strong improvement in performance in H1 2011. The cable maker said that sales at current metal prices amounted to €2.3B in H1 2011, up by 8.9% y-o-y. Despite this, the company announced a pre-tax loss of €133M compared with a €5M profit in H1 2010. This was mainly attributed to the inclusion of a €200M reserve relating to an ongoing E.U. proceeding for alleged anticompetitive behaviour in the submarine and underground power cable sector. The company realised an organic growth over the period of 8.2% y-o-y and said that all business units exhibited growth, especially the Industry and Building unit. Nexans is targeting sales growth of between 5 and 7% for full year 2011.
Piotr Ortonowski

France - Nexans says it did not cancel copper orders from Codelco - 0 views

www.reuters.com/...s-copper-idUSL5E7KD2TI20110913

trends Copper

shared by Piotr Ortonowski on 15 Sep 11 - No Cached
  • Piotr Ortonowski on 15 Sep 11
     
    Nexans is taking copper deliveries as agreed in contracts with Codelco and has not cancelled any reservations with the Chilean miner, a Nexans spokeswoman said. Codelco, the world's top copper producer, had told a newspaper that some of its European and U.S. clients asked to cancel orders due to fears there will be less demand amid uncertainty about the global economy.
Colin Bennett

Mining the Antarctic - 0 views

www.mining.com/he-antarctic-a-big-no-no-57506

trends copper Antartic Arctic mining

shared by Colin Bennett on 04 Nov 14 - No Cached
  • All this while crews try to figure how to drill pass the mantle of ice covering 99% of the continent, which is over 2 miles thick, but it stores an abundance of highly sought resources, including coal, iron ore, manganese, copper, lead, uranium, diamonds and billions of barrels of oil reserves.
Hans De Keulenaer

The geopolitics of metals and metalloids used for the renewable energy transition - Sci... - 4 views

www.sciencedirect.com/...S2211467X19300872

copper geopolitics reserves resources

shared by Hans De Keulenaer on 13 Jan 20 - No Cached
  • This study examines the geopolitical role of 14 metals and metalloids needed for renewable energy technologies. The analysis focuses on three factors with potential geopolitical importance: the geographic concentration of resources, potential revenues of resources rich countries and the size of total global markets.
  • Hans De Keulenaer on 13 Jan 20
     
    This paper (open-access) looks at the future needs for 14 metals, including copper, in the context of the energy transition. Coming from a credible source, the paper presents a balanced and reasonably complete perspective adding a new geopolitical element. For the latter, the Herfindahl-Hirschman index, well known from competition policy, is introduced, and 14 metals are compared to the geopolitics of oil. Interesting as well is the discussion what mineral revenues mean for producer countries.
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