Page 151 - Codelco News Today

The Commodities Feed: US gasoline inventory still rising Energy ICE Brent settled higher yesterday and has been trading on a firm footing this morning on a fairly constructive EIA report, optimism around the US stimulus package and a weaker US dollar. The EIA’s weekly report yesterday showed that crude oil inventories dropped by 3.14MMbbls over the last week, higher than the 1.16MMbbls of inventory withdrawal that the market was expecting, according to a Bloomberg survey. The draw was mainly ...

* China’s Jiangxi Copper, Tongling Nonferrous sign up -source * Charges are same as those agreed by Freeport with China smelters Dec 18 (Reuters) - Chilean miner Antofagasta Plc has agreed to supply copper concentrate to smelters in China and Japan at treatment and refining charges (TC/RCs) of $59.50 per tonne and 5.95 cents per lb in 2021, two sources with knowledge of the matter said. Chile’s state-owned Codelco, which is the world’s biggest producer of mined copper, will also offer cus...

Richard (Rick) Mills Ahead of the Herd As a general rule, the most successful man in life is the man who has the best information. Copper, the most critical metal [Note: all dollar amounts in USD] In 2018, before the trade war between the US and China put the boot into to copper demand, and covid-19 mine closures/abandoned expansion plans crimped supply, we made a bold prediction: that copper supply is NOT going to be able to keep up with demand in the long-term. Here’s what we wrote, in The ...

2 Min Read TOKYO (Reuters) - Pan Pacific Copper (PPC), Japan’s top copper supplier, expects the price of the industrial metal to hover between $6,500 and $7,000 a tonne in 2021, against about $7,850 now, as demand recovery is limited and the market will register a surplus, its executive said. PPC, jointly owned by JX Nippon Mining & Metals and Mitsui Mining and Smelting, projects the global consumption and supply of refined copper to increase by 3.3% and 2.6% respectively in 2021 from this ye...

Veteran copper executive sees mines avoiding major strike shocks Diego Hernández, President of Sonami and a former Codelco CEO. ( One of the world’s most seasoned copper executives isn’t particularly worried about supply shocks from strikes in top-producing nation Chile. “I don’t see an especially dangerous period,” Diego Hernandez, head of Chilean mining society Sonami, said on a webinar Wednesday. He was responding to a question on risks from a hectic schedule of collective bargain...

Codelco renews labor deal with Ventanas division unions Chilean copper producer Codelco renewed its labor agreement with the workers’ unions representing employees at the Ventanas division located in the country’s central Valparaíso region, the state-owned miner said on Tuesday December 15. The new contracts will be effective for 36 months from February 1, 2021 for Union No.1 and from May 1 for the Turnados Union, Codelco said. Similar to the deal with th...

Company" or " CODELCO") announced today the expiration of its offer to purchase for cash (the " Any and All Tender Offer") any and all of its outstanding 3.875% Notes due 2021, 3.000% Notes due 2022 and 4.500% Notes due 2023 (collectively, the " Any and All Notes") upon the terms and subject to the conditions set forth in the Offer to Purchase dated December 7, 2020 (as it may be amended or supplemented from time to time, the " Offer to Purchase") and the accompanying Notice of Guaranteed Deliv...

Lithium Power International (ASX:LPI) changes up plans for Chilean project SubscribeBe the first with the news that moves the market Lithium Power International (LPI) is moving to a staged approach to its majority owned Maricunga lithium project in Chile, after a number of developmental upsets this year The company previously signed a memorandum of understanding to develop a larger scale version of the project by folding it into the Maricunga Salar project, which is owned by Chile’s state-run...

[Chilean state-owned copper company reaches salary agreement with Radomiro Tomic copper union] Chilean state-owned copper company (Codelco), the world's largest copper miner, said on Thursday that it had reached a preliminary salary agreement with a union at Radomiro Tomic. The 36-month agreement does not affect wages, but includes a final bonus equivalent to about $4800 per worker.

3 minutes read By Maria M. Mur Santiago, Dec 10 (efe-epa).- An old wives’ tale in Chile maintains that women traditionally weren’t allowed in underground mining pits because their presence would distract the men and anger the mine, whose jealous rage would manifest itself in the form of cave-ins. But despite the pull of superstition, women have been making inroads for years in Chile’s powerful mining sector and showing that long-held, male-chauvinist prejudices are not insurmountable. O...