Stockholders of BHP Billiton were given a presentation recently on how company officials were analyzing the future of the global copper market. Locally, BHP owns the 5,000 acre Pinto Valley Mine site west of Miami, which is getting ready to go into production once again in about two months. This huge natural resources firm based in Melbourne, Australia is also now involved in an exploratory drilling program here in Globe-Miami at its Sleeping Beauty property near Wheatfields. Stockholders were told the $190 million Pinto Valley open pit mine restart was expected to be underway before the end of the year and will deliver 60 KTPA of copper concentrate. A federal agency last month reported there were 525 contract workers and 314 regular employees at Pinto Valley.
Here are some of the things said in the presentation by BHP officials we found of interest:
The global copper concentrate market is transitions from a period of structural deficit towards a more balanced market.
Forecast surpluses of copper continues to decline as supply growth falls short of expectations.
For the complete article see the 11-07-2012 issue.
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