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Showing posts with label Chile. Show all posts
Showing posts with label Chile. Show all posts
April 29, 2024
April 25, 2024
#BHP’s Bid for #AngloAmerican is Laden with Potential Pitfalls & Challenges…
Buying $AAL.L means $BHP would gain access to 3 of world’s largest #Copper mines.
Merger would improve BHP’s exposure to copper by ~40%—and more significantly—give it 10% of global copper production.
This, however, is likely to lead to significant anti-trust/competition scrutiny in Peru and Chile—not to mention South Africa.
April 17, 2024
#Copper: Higher, Harder, Longer
It's getting harder & more expensive to get #Copper out of the ground
Great report from Bloomberg on the difficulties facing the #Mining industry in meeting the growing need for more Copper.
After more than a century of commercial production at Chile's Chuquicamata reduced the amount of ore that can profitably be extracted from surface, two decades ago state-run Codelco began drawing up plans to build a modern underground mine at the site to tap the riches deep below. The company originally envisioned a $2 billion investment. By the time its board signed off on the project in 2014, the budget had risen to $4.2 billion. At the time of the 2019 ribbon-cutting, it had climbed to $5.5 billion. The latest estimate, including related infrastructure, is $7 billion, making it the biggest outlay Codelco's history.
Those obstacles can drain miners' enthusiasm for new projects. Goldman Sachs Group Inc. estimates the industry needs to spend
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