This Morning in Metals: Copper Prices Make Gains
This morning in metals news, the copper price ticked up Wednesday, an appeals court is reconsidering an aluminum antitrust suit involving several big-name companies and Rio Tinto is taking over a mining site in British Columbia.
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Copper Price Rises
The copper price picked up Wednesday on optimism stemming from the Chinese government’s stimulus measures, Reuters reported.
LME copper moved up 0.2% while the most-traded ShFE copper contract jumped 0.5%.
Aluminum Antitrust Appeal Moves Forward
An antitrust case involving Goldman Sachs, JPMorgan Chase and miner Glencore has been revived by a U.S. appeals court, Reuters reported.
According to the appeal from aluminum purchasers, the companies allegedly conspired to drive up aluminum prices by reducing supply.
Rio Tinto Agrees to Buy BC Mine
Miner Rio Tinto has agreed to take a 100% stake in Triumph Gold’s Andalusite Peak mine property in British Columbia, Mining Weekly reported.
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According to the report, the property was first staked by Triumph Gold in January 2017; high grade copper, gold and silver mineralization was identified on the site.
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