Headlines

• ICSG copper market forecast 2012-2013
• Panama canal centenary expansion on course
• Chile to maintain global mining share
• Copper miners have many admirers
• Copper market remained in small surplus in 2011
• European Commission Energy Roadmap 2050 examined
  
• New book on understanding copper published
  
• ICSG 2011 Statistical Yearbook
  
• Handball claims Copper Box legacy

Stories

ICSG copper market forecast 2012-2013

World demand for refined copper in 2012 is expected to exceed production by about 240,000 mt, as supply will continue to lag behind the growth in demand. This would be the third consecutive year of production deficit. In 2013, however, increased output from new and existing mines could reverse the 3-year trend, and refined copper production could exceed demand by about 350,000 mt, according to preliminary ICSG data for 2012 released on 30th April. www.icsg.org

Panama Canal centenary expansion on course

The amount of ores, minerals and metals cargo passing through the Panama Canal was 30 million long tons (each 1,016 kg) in 2011. The canal’s centenary expansion will create a third lane of locks operational in 2014, expected to increase commodities trade between the U.S. Gulf and East Coast, China and Asia. Panama and East Coast ports are gearing up for a new era. Fleets of ‘New Panamax’ vessels of 12,600 TEU (twenty-foot container equivalent units) capacity have been built up by large shipping lines since 2009 in readiness.
http://www.pancanal.com/eng/expansion/index.html 

Chile to maintain global mining share

According to estimates of the Chilean Copper Commission, Chile has around an US$ 41 billion portfolio of investments in copper mining for the period 2010 to 2018, with 49% of this amount Codelco and the rest in private companies from the large and medium miners. Chile will contribute about 6.8 Mt by 2015 and 7.3 Mt by 2020, maintaining its global share at around 35 per cent. 

Copper miners have many admirers

In Fortune magazine’s March annual ranking on corporate reputation in its mining and oil category, diversified natural resources company BHP Billiton ranks 4th, followed by Rio Tinto in 9th, Glencore International in 10th, Freeport McMoran Copper & Gold in 11th, Xstrata in 12th, Anglo American in 14th, and Vale in 16th. In Fortune’s metals category, leading aluminium producer/fabricator Alcoa shared the top ranking with ArcelorMittal integrated steel and mining company. China Minmetals, which has just acquired Anvil Mining Limited, ranks in 11th place, and CHINALCO is in 15th.

Copper market remained in small surplus in 2011

The copper market recorded a surplus of 69.1 kt in January to December 2011, compared with a deficit of 175 kt in the whole of 2010. Reported stocks rose by 12.1 kt during December and ended the month 59.9 kt lower than at the end of 2010. No allowance is made in the consumption calculation for unreported stock changes. World mine production in January to December was 16.21 million tonnes, 0.5 per cent higher than in 2010. Global consumption for January to December 2011 was 19.51 Mt and the 2010 calendar year total was 19.37 Mt. World Metal Statistics February 2012 was published on 15th February by the World Bureau of Metal Statistics. www.world-bureau.com   

European Commission Energy Roadmap 2050 examined

The European Commission adopted its Energy Roadmap 2050 to deliver on the EU’s 2050 climate objective in December 2011. The Coalition for Energy Savings voiced concern over the energy scenarios’ assumptions and results, which it said are inconsistent with the fundamentals of EU energy policy, including the 20% energy savings target for 2020. Although the Roadmap acknowledges that higher energy efficiency in new and existing buildings is crucial, the scenario results for buildings are particularly misleading. They only amount to 47% energy savings in 2050, while 80% savings are estimated to be feasible with current technologies and cost-effective in this sector, according to the Coalition for Energy Savings. http://www.energycoalition.eu/

New book on understanding copper published

Understanding Copper – Technologies, Markets, Business is newly available in a 375 page hardback edition. This subjective study covers the whole value chain of copper, emphasising the connections in the chain and combining technical and commercial issues. The Author is Dr. Bernd E. Langner, whose 30 year copper industry career includes being on the Executive Board of Aurubis AG, General Manager of Prymetall, and on the Board of Directors of the European Copper Institute. His hope is that everybody who is engaged in the copper business should have this book, to know what is behind it. http://www.understanding-copper.com/

ICSG 2011 Statistical Yearbook

The International Copper Study Group 2011 Statistical Yearbook covering world copper supply and demand data for the period 2001-2010 is now available. According to ICSG data, world copper mine production rose by 18 % during the period from 13.6 Mt in 2001 to 16.1 Mt in 2010. Copper in concentrates rose by 16 % while SX-EW production rose by 28 %. http://www.icsg.org/

Handball claims Copper Box legacy

A campaign has been launched by the British Handball Association against the renaming on the Olympic Handball Arena to the ‘Copper Box’, which was its acquired nickname after construction due to the 3,000 sq m of external copper cladding – mostly recycled – to give it a distinctive appearance that will develop a rich natural colour as it ages. Organising Committee Locog hosted the first UK Government Cabinet meeting of 2012 in the Copper Box on the Olympic Park on 9th January. Handball is the most popular sport for women in Europe, and the second most popular for men. Britain has been given a wildcard into both Olympic Handball Tournaments. Comments welcome