Mining Oil and Gas Jobs Home | Blog | Contact Us
Mining Jobs
Mining & MetalsOil, Gas & EnergyConstructionLife in AustraliaCareer ResourcesTraining & Development

You are here: Home /
Get our blog delivered to your inbox

Recent Blog Posts

Rio to approve $US1b South of Embley project
Monadelphous has won a $200 million Shell contract on its Prelude floating LNG project
New Nickel Mine
AMMA Resource Industry Market Outlook
New Uranium Jobs

Post Archives

December 2015(0)
November 2015(3)
September 2015(3)
July 2015(0)
August 2015(3)
June 2015(3)
May 2015(3)
April 2015(5)
March 2015(4)
February 2015(4)
February 2015(0)
October 2015(0)
January 2015(2)
December 2014(3)
November 2014(3)
October 2014(9)
September 2014(7)
August 2014(8)
July 2014(8)
June 2014(7)
May 2014(9)
April 2014(10)
March 2014(10)
February 2014(9)
January 2014(7)
December 2013(7)
November 2013(12)
October 2013(11)
September 2013(9)
August 2013(14)
July 2013(19)
June 2013(16)
May 2013(12)
April 2013(9)
March 2013(11)
February 2013(12)
January 2013(13)
December 2012(16)
November 2012(22)
October 2012(21)
September 2012(20)
August 2012(25)
July 2012(31)
June 2012(31)
May 2012(31)
April 2012(30)
March 2012(31)
February 2012(29)
January 2012(30)
December 2011(31)
November 2011(30)
October 2011(30)
September 2011(30)
August 2011(3)

Blog Tags

Australian-Life (66)
AWRA (30)
Career-resources (196)
Construction (123)
Diversity (51)
Energy (169)
Job-seekers (452)
Mining (457)
Oil-and-gas (325)
Recruitment (65)
Training-and-Development (121)

Copper on the rise

Posted: 12/05/2015 9:04:33 AM by Mining Oil and Gas Jobs
Filed under: Mining, Oil-and-gas, Energy

The old adage says that as one door closes another opens and according to industry spokesperson Laura Gunnis this has certainly been her experience over her many years of following industry trends.

She said recently that the short and medium-term outlook for copper appears to be strengthening and Rio Tinto appear to be in the vanguard as they are performing well on a project with the potential to boost this year’s copper production — the Bingham Canyon copper mine in the Rocky Mountains of Utah.

In a media comment, Rio’s copper chief Jean-Sebastien Jacques said he was feeling much better about the market environment for his business “I am becoming more and more positive about 2015,” Mr Jacques said. “I wouldn’t be surprised if the market is balanced this year, because lots of players are delaying their projects and there have been lots of disruptions, such as rain in Chile a few weeks ago, which have had a major impact.”

Mr Jacques said “The remediation (at Bingham Canyon) is going very well and the team is doing a very good job, so there is positive news coming out of Kennecott” If the work continues apace, it could mean more production from the mine. Whether this boosts Rio’s 2015 copper guidance of 500,000 to 535,000 tonnes will not be clear at least until the release of the second-quarter production report in July.

Copper prices have seen a 20 per cent rebound since January lows and are now trading just below $US3 a pound. This is still well below prices for most of the past five years.

Mr Jacques said supply factors boosting the market outlook would have a flow-on effect, along with some positive demand signs, which meant an oversupply in the market would clear a year or two earlier than expected.

“There could be some oversupply next year. However, my view is we could see the light at the end of the tunnel in 18 to 24 months in the form of an inflection point, which would be good news for the copper industry,” Mr Jacques said.

Add your comment

Mining Jobs

Careers and Industry Guide

Mining & Metals
Oil, Gas & Energy
Alternative Energy
Living & Working in Australia
Career Resources
Training and Development

Contact Us

Mining Oil and Gas Jobs Blog RSS Feed Mining Oil and Gas Jobs on LinkedIn Mining Oil and Gas Jobs YouTube Mining Oil and Gas Jobs Twitter Mining Oil and Gas Jobs on Facebook

International Association of Employment Web Sites Member
alyka web design perth