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Copper mine production may decline y/y in 2011 for first time since ‘02

Posted on 14 November 2011

The majority of corporate Copper mining results are now in for Q3 11, and the overall performance has been broadly weak, said Barclays Research in a breifing. The results of a group of corporates, which account for close to 40% of global mine capacity, showed output falling 7% y/y (-110Kt) and for the year-to-date, a marginally better 4% y/y decline, Barclays: data supportive of china engineering soft landing.
Taken in line with the ICSG data for January to July, which showed flat output year-to-date, current indications point to the overweight probability that global copper mine supply will contract in 2011………………………………………..Full Article: Source


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