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Southern Copper CEO Sees Return to $4 Copper on U.S. Demand
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Nov. 4 (Bloomberg) -- Copper prices may rebound to $4 a
pound next year because of recovering economic growth in the
U.S. and Europe and a lack of new supply, Southern Copper Corp.
Chief Executive Officer Oscar Gonzalez Rocha said.
Financial crisis hits some Peru mining projects
Like Inca Pacific, Southern Copper Corp, Candente Resources, Strike Resources Ltd and Newmont Mining Corp (NEM.N: Quote, Profile, Research, Stock Buzz) have complained of having to reexamine or delay their projects in Peru because of the global crisis.
Southern Copper has said plans for its Los Chancas would be evaluated, and that it may consider dipping into dividends for project funding.
Southern Copper 2Q profit falls 24 pct
LIMA, Peru -- Peru's Southern Copper Corp. on Thursday said second-quarter
profit fell 24 percent from the year-ago period amid strikes and higher fuel and
production costs.
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