The world’s ninth-largest copper mine is set to shut down. |
||
|
Due to failed negotiations with environmental protestors, the Peru-based Las Bambas copper mine will shut down production on December 18. These protestors have been blocking roadways into the mine since mid-November. The duration of the possible shutdown is currently unknown. The mine is owned and operated by MMG-Ltd, a China-based firm. According to the company, the mine will produce 290,000 mt of copper concentrate in 2021, which is down from 311,020 mt produced in 2020. Reuters recently stated the mine can produce 400,000 mt of copper concentrate per year, which is approximately 2% of world production. (12/17/2021) |
|
|
Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here. |
||
|
|
||
Price Indications |
||
|
|
||
|
|
||
Today's Charts |
||
 |
 |
|
 |
 |
|
AEGIS Insights |
||
|
12/13/2021: Section 232 Tariffs: Most relevant developments (AEGIS Reference) 12/10/2021: AEGIS Factor Matrices: Most important variables affecting metals prices 11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports? |
||
|
|
||
Important Headlines & Economic Data |
||
|
AISI Steel Capability Utilization Rate Investing.com Economic Calendar 12/16/2021: MMG shuts down Las Bambas copper mine as talks fail 12/15/2021: China housing market slumps again as another developer runs into trouble 12/14/2021: Global supply chain: Toyota extends Japan production stoppages 12/13/2021: Raw Steels MMI: Steel prices decline; more tariff negotiations 12/9/2021: China steps up overseas hunt for ore needed to make aluminum |
||
|
|
||
|
|
||
| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
|
||
