Mongolian Government Confident It Will Resolve Disputes With Rio Tinto

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The clock is ticking, but “a Mongolian official said on Tuesday the government is confident it can resolve disputes with Rio Tinto over the $5 billion expansion of the Oyu Tolgoi copper and gold mine by Dec. 31, the deadline for sealing financing for the project,” reports Reuters.

The Japanese copper cash price saw the biggest increase at 1.5 percent for Monday, September 30. The price of US copper producer grade 110 rose 0.5 percent. The price of US copper producer grade 122 gained 0.5 percent. The price of US copper producer grade 102 rose 0.5 percent.

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Chinese copper prices all closed flat for the day. The price of Chinese copper bar remained steady. The Chinese copper cash price held steady. Chinese copper wire stayed flat. The price of Chinese bright copper scrap held steady.

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At $7,252, the cash price of primary copper finished the market day on the LME up 0.4 percent per metric ton. Also on the LME, the 3-month price of copper rose 0.4 percent to $7,275 per metric ton.