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Copper Dec 20 (HG=F)
- Reuters
Teck Resources profit misses estimates as prices of steelmaking coal tumble
Teck said labor intensive activities such as maintenance, mine operations and projects continue to be impacted by COVID-19 safety protocols. Average price realized for steelmaking coal dropped 34.6% to $102 per tonne in the third quarter, while sales stood at 5.1 million tonnes compared with 6.1 million tonnes a year earlier. Teck said profit attributable to shareholders was C$61 million ($46.26 million), or 11 Canadian cents per share, in the quarter ended Sept. 30, compared with C$369 million, or 66 Canadian cents per share, a year earlier.
- Reuters
Exclusive: Biden campaign tells miners it supports domestic production of EV metals
The Obama administration enacted rigorous environmental regulations that slowed U.S. mining sector growth during its time in office. Biden, who served as Obama's vice president and is well-regarded in conservation circles, has been expected to continue in that vein. The U.S. Democratic presidential candidate also supports bipartisan efforts to foster a domestic supply chain for lithium, copper, rare earths, nickel and other strategic materials that the United States imports from China and other countries, the sources said.
- The Telegraph
Copper hits $7,000 on Chinese demand and US stimulus hopes
Copper topped $7,000 a ton for the first time in more than two years, partly driven higher by renewed hope for a US stimulus package. It has rallied 60pc from its mid-March lows amid rising sentiment, touching $7,034 a ton on Thursday – its highest level since June 2018.
