Anglo American partnered with Canada’s Northern Dynasty Minerals Ltd in 2007 to develop Pebble mine, but announced Monday that it was leaving the project. Now supporters and opponents have agreed to keep the Pebble project alive without even without the financial backing from Anglo American, reports Reuters.
“This is a huge asset – a huge, valuable asset for the State of Alaska,” said Ron Thiessen, Northern Dynasty’s chief executive, who added [to Reuters] that he remains very confident the mine will be built within the next 10 years.
Decreasing 18.9 percent made Chinese bright copper scrap the biggest mover of the day on Wednesday, September 18. Chinese copper wire fell 0.2 percent yesterday. Chinese copper bar stayed flat. The Chinese copper cash price held steady.
The cash price of primary Japanese copper fell 0.1 percent. The price of US copper producer grade 122 held steady yesterday. The price of US copper producer grade 102 remained essentially flat. The price of US copper producer grade 110 also held steady.
On the LME, the cash price of primary copper saw little movement on Wednesday at $7,056 per metric ton. The copper 3-month price saw little movement on Wednesday on the LME, closing out around $7,085 per metric ton.