The union representing Asarco copper miners says that rising metal prices in the world market will probably lead to expansion at 2 Arizona mines.
The Arizona Daily Star reports that the union official told the energy and mining publication Platts that the two most likely mines to expand operations are the Ray mines and the Mission Mine south of Tucson.
Asarco had no comment and the Star’s calls to the United Steel Workers were not returned.
Copper prices bottomed at $1.33 a pound in 2008 but have recently topped $4. Some experts predict that shortages could drive up copper prices to $5 a pound.
No comments:
Post a Comment