Copper yesterday settled up by 0.89% at 657 after top producer Chile permanently closed mining stopes connected to the giant sinkhole that appeared in the northern part of the country in July. Chile’s environmental regulator filed charges related to the sinkhole against Canada’s Lundin Mining Corp which owns 80% of the property, while the remaining 20% is held by Japan’s Sumitomo Metal Mining and Sumitomo Corp. Meanwhile, copper prices declined more than 4% in the past two sessions on expectations that the US Federal Reserve will continue to raise interest rates aggressively, with better-than-expected US jobs data and hawkish remarks from US policymakers cementing such a view.
11 October 2022
https://in.investing.com/analysis/copper-rises-on-chile-mining-closures-200543972
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