Hit by oversupply and depressed prices of metals, the outlook for leading aluminium and copper producer Hindalco is "challenging" in the short term, its chairman Kumar Mangalam Birla said on Wednesday.
Symbol: COPPER| Contract: Nov, 2016| Category: Metal
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Copper's Latest News
Tasmania has offered a financial package of 25 million Australian dollar (ASD) to Vedanta Resources for restarting a copper mine by 2017, the Australian state's premier, Will Hodgman, said on Tuesday.
Operations at Mt Lyell copper mine on Tasmania's west coast were suspended in 2014 after two maintenance workers fell to their deaths in December 2013 and another worker was killed in an underground mud rush one-and-a-half months later.
Mining conglomerate Vedanta will invest up to Rs 3,000 crore in copper operations to double the capacity to 8 lakh tonnes by 2019, making the firm India's largest producer of the metal.
Indian billionaire Gautam Adani-controlled conglomerate Adani Enterprises plans to build a copper smelter with an eye to furthering its ambitions in the solar sector, said a source familiar with the plan.
European shares advanced on Thursday as firmer copper prices lifted mining stocks, while expectations among financial investors that Britain would vote to stay in the European Union also supported markets.
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