Glencore Restructures Congo Copper Miner Katanga for $5.6 Billion

Australian Swiss mining giant Glencore PLC announced a massive $5.6 billion restructuring of its troubled Congo copper company, Katanga Mining last week which resolved the fiery dispute with Congo’s state-run mining companies massive debt load.

Iron Ore Stocks Rally On Chile, US Tax and China Clean Air Reform

Tax Reform euphoria saw the Dow hit it’s 70th high for the year today and leading iron ore stocks went up with it. Leading iron ore stocks, $RIO, $BHP and $VALE have been receiving a boost with China’s clean air program, we also got positive election news for miners in Chile.

BHP Higher Copper Production Offsets Lower Iron Ore Output

Australian mining giant BHP Billiton posted quarterly production guidance with higher copper output helping offset lower iron ore volumes out of the Pilbara and lower petroleum production from Hurricane Harvey. $BHP has maintained full-year production guidance for all its commodities despite softer quarterly numbers. 

Copper 3 Year Highs Near As Record Speculative Longs For Third Week

Copper prices continued higher Monday to its highest close since November 2014. Industrial metals have been on a tear with Zinc hitting a 10 year high last week. The Chinese demand and supply equation continues to buoy base metals.

Freeport-McMoran $FCX +8% After Earnings, Where Now For the Copper Giant?

Freeport-McMoRan $FCX, the world’s biggest publicly listed copper producer Swung back to a profit in the second quarter. the stock soared 8% at open. We look at where to now for FCX.