| Market can't weaken confidence in copper |
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Source: Dow Jones Date: 21 September, 2011 Despite concerns about the global economy, Xstrata Copper said it continues to see strong fundamentals in the copper market.Officials from the Chilean state-owned copper company Corporacion Nacional del Cobre (Codelco) said that some of the company clients requested to cancel orders due to the economy. Codelco is the world's top copper-mining company and produces about 1.7 million metric tons of copper, which accounts for about 11 percent of global copper output.However, Xstrata reported that it has not received any requests to cancel orders. The company plans to develop new copper projects and begin operations in 2012 and 2014. |