Rio Tinto and BHP Billiton are amassing vast copper holdings in a push to capture a greater chunk of the $140 billion world market, apparently aiming to squeeze out high-cost producers just as they did in the global iron ore business.
On the London Metal Exchange (LME), three-month metal was charging to the then all-time high of $9,550 per tonne, and front-month spreads were tightening.
LME reports at the time showed a single entity controlling over half of all
Barrick Gold said on Sunday it is forming a joint venture with Saudi Arabian Mining Co (Ma'aden) to run its Jabal Sayid copper asset in the kingdom, a move that could see the long-delayed mine finally begin production in late 2015.
A total of six gold and two copper deposits have been discovered in Saudi Arabia since 2010, according to a recent announcement from the Saudi Geological Survey (SGS), a report said.
A number of key achievements have been made by
Scientists have made a strong, lightweight wire from carbon that might eventually be a rival to copper if its ability to conduct electricity can be improved, Cambridge University said on Thursday.
They said it was the first time t
Arabian American Development Company, a specialist in manufacturing of petrochemical solvents, has announced its first sales of zinc and copper concentrate from the Al Masane Al Kobra (Amak) mine in Saudi Arabia.
Amak, which i
Copper rebounded on Thursday following hefty losses in the previous session that dragged prices to four-month lows, but gains were fragile as worries about the deepening political crisis in Greece kept investors cautious. &
Commodities other than oil will fail to capture much of the renewed investment appetite for risky assets that has buoyed global markets this year until more clarity emerges about demand from China, say analysts.
Investment has flowed into
Oil jumped to multi-month highs and copper rebounded on Monday, as investors flocked to riskier assets after China's first bank reserve requirement cut for this year.
Commodities also tracked euro's gains as the dollar weakened on expectat