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First Quantum Minerals Ltd T.FM

Alternate Symbol(s):  FQVLF

First Quantum Minerals Ltd. is a Canada-based global copper company. The Company produces copper in the form of concentrate, cathode and anode and has inventories of nickel, gold and cobalt. It is engaged in the production of copper, nickel, gold and silver, and related activities including exploration and development. The Company's operating mines include Cobre Panama, Kansanshi, Sentinel, Cobre Las Cruces, Cayeli, Guelb Moghrein, Ravensthorpe and Pyhasalmi. Its development projects include Enterprise, Haquira, Taca Taca and La Granja. Its operating segments include Cobre Panama, Kansanshi, Trident and Ravensthorpe. The Cobre Panama project comprises a series of copper porphyry deposits with main deposits, such as Balboa, Botija, Colina and Valle Grande. The Trident segment includes the Sentinel copper mine and the Enterprise Nickel development project. Its Ravensthorpe Nickel Operation is an open pit mine and primary processing plant located in the southwest of Western Australia.


TSX:FM - Post by User

Bullboard Posts
Post by bond46on Mar 19, 2016 2:31pm
285 Views
Post# 24679200

Copper supply tightens

Copper supply tightens
Copper Traders have been shifting copper from LME-tracked warehouses to China to take advantage of arbitrage opportunities, boosting the amount held in facilities monitored by the Shanghai Futures Exchange to a record. The movement has also been spurred by traders purchasing metal priced in dollars as a currency hedge amid expectations of a weaker yuan, said Michael Turek, head of base metals at BGC Partners in New York. Stockpiles of LME-monitored copper slumped 3.7% on Thursday, the most since May 2014. Inventories dropped for a 21st day on Friday to the lowest in almost 17 months. The withdrawals have helped boost copper prices by 17% since mid-January. The premium that metal for immediate delivery commands over later contracts has widened this year, a sign that supplies have tightened. While LME stocks have dropped quickly, the build taking place in China has been at least as severe, Macquarie Group Ltd. said in a report e-mailed Thursday. This years rally in iron ore has also boosted optimism that demand in China, the biggest metals user, may be better than previously expected, it said. The total amount of six metals in LME facilities has dropped 26% in the past year to 4.1 million tons. More than 10 million metric tons of aluminum are held in unmonitored locations, according to Macquarie. The bigger picture really is we are awash with aluminum, Caroline Bain, a commodities economist at Capital Economics in London, said by phone. Even though stocks have been falling, the demand isnt there. We have to assume that most of this metal is going off-exchange.
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