copper
BHP has made an offer of £31 billion (around €36 billion) to merge with its smaller UK competitor Anglo American. The proposal comes after Anglo American, which had a $37.7 billion (€35.23 billion) market value at Wednesday's close, noted a 94% decrease in profits last year. As part of the takeover offer, BHP said it would offer Anglo's stockholders £25.08 per share. The deal, which would be one of the biggest mining mergers in years, could allow BHP to become the world's largest copper producer. Anglo has significant mines in South Africa and also operates sites in countries like Chile, Austr...
Euronews (English)
Copper prices jumped to their highest in 15 months in April, touching $4.3 (€4.01) per pound, before settling at $4.2 per pound on Thursday morning. This was a weekly rise of 1.61% and a monthly increase of 9.05%. This is mainly due to worries about lower supply, as well as steadily increasing demand. Chinese smelters are the key reason why copper supply is quite drastically reduced at the moment, as several smelters cut production. Furthermore, upcoming regulation could potentially see Chinese smelters slashing output by up to 10% in 2024. Tightening availability of key copper ore because of ...
Euronews (English)
Dubbed "Dr. Copper" for its predictive ability to diagnose the health of the global economy, copper has become increasingly central to both industrial progress and the transition toward electrification and sustainability, thanks for its use in electric vehicles, wind, solar energy and power grids. With the world pivoting to a more environmentally friendly future, the dynamics of copper's supply and demand have led to a notable resurgence in its value. Since mid-February, the price of copper has ascended to its highest point in nearly a year, only to experience a slight retreat in recent sessio...
Euronews (English)
Copper theft is delaying thousands of trains and causing millions of euro worth of damage to rail infrastructure across Europe. You may wonder why thieves stealing a metal could be so significant as to stop trains from running. Well, because trains can’t run at all without copper. It is the essential component in things like signal cables, grounding wires and power lines. Without them, trains don’t have the power or communications to run. Why do thieves want to steal copper?One tonne could be sold to a metal recycling facility in the UK for around £6,600 (€7,726) last March, according to a UK ...
Euronews (English)
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