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Marimaca Copper Corp T.MARI

Alternate Symbol(s):  MARIF

Marimaca Copper Corp. is a Canada-based exploration and development company focused on base metal projects in Chile. The Company’s principal asset is the Marimaca Copper Project, located in the Antofagasta Region of northern Chile. The Marimaca Copper Project is situated at a low altitude in Chile’s Coastal Copper Belt, 25 kilometers (km) east of the port of Mejillones and 45 km north of Antofagasta, Marimaca has access to water and power, road and rail networks supplying sulphuric acid and other consumables, as well as deepwater ports. The Marimaca Copper Project comprises a set of concessions (the 1-23 Claims), properties 100% owned and optioned by the Company, combined with the adjacent La Atomica and Atahualpa claims, over which Marimaca Copper has the right to explore and exploit resources. The Company also has an option agreement to acquire the Pampa Medina project (Pampa Medina), which consists of four mining concessions totaling 144 hectares.


TSX:MARI - Post by User

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Post by grossmrkupon Feb 22, 2017 9:07pm
312 Views
Post# 25880667

Copper should be well into deficit this year

Copper should be well into deficit this yearIf they're down 41k tonnes already they'll be down close to 100k by the 30 day mark. And there is no guarantee that workers will go back at that point. Add Grasberg problems to the mix and I don't see how we aren't back to $3.00 copper by years end. Toggle navigation MINING.com BHP has lost 41,000 tonnes of copper due to strike at Escondida Cecilia Jamasmie | about 9 hours ago | 389 | 0 BHP has lost 41,000 tonnes of copper due to strike at Escondida BHP Billiton has a 57% stake in Escondida, the worlds largest copper mine. (Image courtesy of Municipalidad Antofagasta | Flickr ) Worlds largest miner BHP Billiton (ASX, NYSE:BHP) (LON:BLT) has already lost 41,000 tonnes of copper production due to an ongoing strike at its Econdida mine in Chile, the worlds largest. According to 24 Horas (in Spanish), there seems to be no end in sight for the stoppage, which completed 14 days Wednesday, following a failed government-mediated meeting between workers and the company held on Tuesday. BHP said is willing to return to the negotiating table as many times as necessary to reach a new collective agreement. Both sides have yet to reach an agreement over topics such as shift pattern changes, one-off bonus sizes and fresh wages, but a mines spokesman said Wednesday management is willing to return to the negotiating table as many times as necessary to reach a new collective agreement, PubliMetro reports (in Spanish). He added the firm wont replace any workers until past 30 days of the labour action, even though it can legally hire temporary workers after 15 days of a strike. While its difficult to estimate the potential financial impact of the strike, BHP which declared force majeure on shipments from the mine last week has said it expected to produce about 1.7 million tonnes of copper this year at Escondida. Considering that figure represents a daily output of 2,931 tonnes, the company is already 41,000 tonnes behind its estimate. Based on BHPs latest earnings report released on Tuesday, health and safety are part of the company's values and the miner said it was "committed to providing a safe workplace." In the same release, the Melbourne, Australia-based firm noted that total copper output guidance for 2017 was currently under review due to the strike at Escondida. BHP also stated it was on track to deliver $1.8 billion of productivity gains within the 2017 financial year, excluding any impact from the ongoing industrial action at its largest copper mine. Sign up for our daily newsletter Your Email Here SIGN UP MINING.com Reaching Out About Us Advertise Contact Submissions Terms of Use Sign Up for a Digest Mining News Gold News Suppliers and Equipment Coal News Copper News All Digests MINING.com InfoMine MINING.com All Rights Reserved
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