Southern Copper Corporation

US market gains modest

Resource-related stocks were generally up in the pre-holiday trading period on American equity markets, though the broader market moved sideways. The Standard & Poors 500 index was up 8.74 points…


Golds up in volatile market

Gold stocks were among the winners on U.S. equity markets during the trading period Dec. 6-12, as the broader market gyrated first in response to favourable economic statistics and later to another ri…


Mines left out of U.S. rally

U.S. equity markets pulled out of a long slide on Oct. 14 and 17, finishing the reporting period Oct. 11-17 a little higher. The Dow Jones Industrial average gained 1%, finishing at 10,348.10 points,…


U.S. markets continue shallow uptrend

Stronger than expected manufacturing data and a slight drop in oil and gas prices helped U.S. markets continue a shallow uptrend over the report period Sept. 27-Oct. 3. The broad-based S&P 500 Ind…


Photo by Leticia LozanoPeruvian peasants demonstrate against mining companies during the final day of a global industry conference in Arequipa, Peru. The protesters claim that mining is polluting water supplies and damaging farmland.

Miners look to Latin America

Arequipa, Peru — Oscar Gonzalez, chief executive of Southern Peru Copper (PCU-N), wears a wry smile on his face — and with good reason….


Commodities shine in U.S.

Oil and gas, gold, copper, and fixed-price commodities such as coal have all enjoyed rallies of late, but trading activity was a mixed bag on U.S. markets over the report period Sept. 20-26, with gold…




Shougang losing friends in Marcona

Lima, Peru — Venezuela’s President Hugo Chavez once said that China’s Chairman Mao and South America’s independence hero Simon Bolivar would have been the best of friends had they met, a lively ackno…


Phelps balances priorities

Vancouver — Robust prices for copper and molybdenum allowed Phelps Dodge (PD-N) to post record net income of US$682.3 million, or US$6.75 per share, for its latest quarter ended Ju…



Barrick Gold's Alto Chicama operation in Peru. The mine, now known as Lagunas Norte, is exempt from paying mining royalties until the government decides when the exemption expires. Lagunas Norte poured its first gold in mid-June and is expected to produce between 545,000 and 550,000 oz. gold in 2005 at total cash costs of roughly US$110 per oz.

Peruvian royalty proving problematic

Lima, Peru — Record international metals prices have been hugely profitable for Peru. They also brought with them a nasty surprise: mining royalties. Everyone, it seemed, wanted a slice of the pie. B…


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