Gold bullion edged 0.2% lower

“Swiss Resource Capital AG is pleased to welcome Arizona Sonoran Copper Company Inc. as a new customer. With our many years of experience and an extensive network, we offer you a unique platform to effectively represent the company and reach your target group in a targeted manner. Our goal is to sustainably strengthen your brand in the financial world and significantly increase your reach,” says Jochen Staiger, Managing Director of Swiss Resource Capital AG.

Source – The Charlotte Observer

The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.

Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.

Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.

The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.

Source – Reuters

First Quantum decision suggests movement to resolve investor dispute with Central American government

Canada’s First Quantum Minerals on Monday said it was stepping back from a multibillion-dollar arbitration demand against Panama’s government over the closing of one of the world’s largest copper mines.

Source – Financial Times

Mining giant BHP Group flagged rising costs and delays at a giant potash project in Canada and said it may sell its Australian nickel operations, as it reported record annual iron ore and copper production.

The company said Friday it faces rising costs at the Jansen potash project in Canada’s Saskatchewan province, its only major development currently under construction.

The company said it is also reviewing Jansen’s second stage, which is roughly 11% complete. BHP may delay first production from that expansion by two years, to fiscal 2031, because it reckons there might be more potash supply coming into the market over the medium term than previously envisaged.

BHP said it expects to produce between 1.8 million and 2.0 million tons of copper in the year ahead.

Source – The Wall Street Journal