Copper

“This we hope will be reality in a three to five year period,” PolyMet’s Warren Hudelson told MPR News in 2004.

Now, 20 years later, the controversial mine in northeast Minnesota still hasn’t opened. It hasn’t even begun construction, because three key permits it needs to advance — approvals state and federal agencies granted more than five years ago — have since been revoked or suspended.

Source – MPRnews

Three-month copper on the London Metal Exchange (LME) rose 0.1% to $8,949.5 a metric ton in official open-outcry trading.

Adding further pressure, the International Copper Study Group said on Friday that the global refined copper market was in a 287,000 metric ton surplus for the first 10 months of 2024.

With a mean reversion strategy in play, copper is likely to strengthen back above the crucial $9,000 mark, Sucden Financial analysts said.

Source – ZAWYA

First, I had no idea that Arizona has a couple of nicknames one of them being “Copper State”. Pretty interesting fact.

I wanted to share this article because there are mining companies here in the United States that are not talked about enough or just don’t get attention. Being interested in precious metals myself, I’d like to know what’s going on with this particular interest and certain information whether it pertains to me or not, but I felt this was interesting because the locals of this area in Arizona are having to deal with certain changes.

I would like to include more of these types of articles in the future if anyone is interested but all things precious metals deserve to be know, I feel.

News!

One of North America’s largest known undeveloped copper deposits, with visions of multiple open pits and a tailings dump stretching down from the mountains toward the narrow Sycamore Canyon’s far rim.

“You come here for some peace and quiet,” Corona de Tucson resident Kevin Kennedy said, “and a mine is anything but.” reported Brandon Loomis

The neighbors and regional environmental groups all make the case that the Sky Islands in general and the Santa Ritas in particular are no place for a massive new mine with multiple open pits. The mountains are home to rare birds and occasionally rarer mammals, like the jaguar, and are considered one of the nation’s most biologically diverse mixing zones of tropical, desert and Rocky Mountain species.

“There are places that are so precious that they shouldn’t be mined,” said Rob Peters, who directs the local advocacy group Save the Scenic Santa Ritas.

Source – Arizona Republic

Would you like to see more?

I will soon do an article on copper and it’s investing benefits, pros and cons in the near future but please let me know if this is something you would like to see or if you like the news style.

It’s been quite fun posting updates on the precious metals world, and I’d like to know your point of view, likes or dislikes. I would like to hear from you!

Peruvian copper production is expected to remain flat in 2025 for the third straight year, according to the country’s top mining association and industry analysts, as declining ore grades and a lack of new projects cap output.

Peru’s top mining association SNMPE expects the country’s 2025 copper output to hit around 2.8 million metric tons, matching 2023 and what is expected for 2024, as miners contend with poorer-quality resources and development bottlenecks for new projects.

“By 2025, Peruvian copper production is expected to be similar to this year’s expected 2.8 million tons,” said Victor Gobitz, SNMPE’s head, in an interview last week.

Source – Reuters