Copper prices near 2-year high as Chinese factory output accelerates Photo: Bloomberg
Copper prices near 2-year high as Chinese factory output accelerates 1 min read . Updated: 15 Sep 2020, 03:50 PM IST Peter Hobson , Reuters Benchmark copper on the London Metal Exchange was down 0.2% at $6,783 a tonne at 0944 GMT but within striking distance of a 26-month high of $6,830 reached on Sept. 1
LONDON : Copper prices hovered near two-year highs on Tuesday after strong manufacturing data in China, the biggest consumer, boosted confidence in the demand outlook.
A positive mood rippled through markets, lifting global equities, while the yuan jumped to its strongest in 16 months against the dollar, helping metals by making them cheaper for Chinese buyers.
Benchmark copper on the London Metal Exchange (LME) was down 0.2% at $6,783 a tonne at 0944 GMT but within striking distance of a 26-month high of $6,830 reached on Sept. 1.
"The Chinese data show there's still a very positive backdrop for industrial metals and copper in particular," said Capital Economics analyst Kieran Clancy.
He said traders had already priced in a strong rebound in Chinese demand, with copper up more than 50% from a low in March, but that prices would continue to rise at a slower pace.
Nevada Copper Restarts Production T.NCU | August 24, 2020 YERINGTON, Nev., Aug. 24, 2020 (GLOBE NEWSWIRE) --
Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company’’) is pleased to announce that it has restarted its milling operations at its underground project at Pumpkin Hollow (the “Underground Project”).
On August 20, 2020, the Company restarted its processing plant following temporary suspension of copper production due to impacts of the COVID-19 pandemic. The plant restart and ramp up benefits from the processing plant’s initial consistent performance in the First Quarter.
There are approximately 160,000 tons of stockpiled material at surface available for immediate processing. The stockpiled ore will be supplemented with additional development ore and subsequent stope ore hoisted via the East North Ventilation Shaft (ENVS). Material will continue to be hoisted from the ENVS until work on the Main Shaft has been completed. The Company remains on track for the commencement of Main shaft hoisting scheduled for Q4, 2020.
“We are encouraged by the processing plant restart at our Pumpkin Hollow mine,” stated Evan Spencer, Chief Executive Officer of Nevada Copper. “Our full workforce has been mobilized and we have transitioned our operations back into production smoothly, picking up where we left off in Q1. We look forward to executing our ramp-up plans and will report on progress in the coming months.”
Nevada Copper’s priority during the COVID-19 pandemic is to safeguard the health and safety of the Company’s workforce, including by following government mandated directives. The Company has implemented additional health and safety measures to address COVID-19 risks during the restart of the processing plant. Other such measures have been implemented in connection with the ongoing mine development.
Qualified Persons The information and data in this news release was reviewed by Greg French, C.P.G., and David Sabourin, P.E, for Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
News 
Market Data 
Discover 
