15.04.2014 - China deal shows optimism over copper prices
It might not look like the time to be buying into copper: The price of the commodity has fallen 9.6% since the start of the year, in part because of concerns about China’s slowing economic growth. So why is a consortium led by a unit of China Minmetals Corp., a state-controlled miner, paying at least $5.8 billion for Glencore Xstrata PLC’s Las Bambas mine in Peru, one of China’s biggest mining acquisitions in years? For one, China is taking a longer-term view. The nation consumes around 40% of world copper supply, a commodity used to make computers, refrigerators, cars, plumbing equipment and power lines, to name just a few applications...............................................Full Article: Source
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