At present, it has 12 per cent to 15 per cent, thus would need an acquisition of some 500,000 ounces to 700,000 ounces. Bulls should not be discouraged. The fact that prices are trading sideways to higher and consolidating at higher price levels is positive for them. Prices closed at the weekly high close today, which is positive for bulls heading into next week. December N.Y. copper closed 45 points lower, at 65.20 cents.
Prices continue to hover just above the contract low set last week.
The recent strength in the precious metals is not helping this industrial metal. The upgrade follows several drilling programmes at the site. Processing of Lonshi's ore via blending with tailings existing at First Quantum's fully-owned Bwana Mkubwa operation in Zambia is expected to begin in November. Construction work would take approximately twelve months. African Mining Monitor includes paraphrased and abstracted material with the source, which is deemed to be reliable and duly identified.