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Why should we care? After all, it's far from the USA.
Yeah, but what is copper used for? If we lack access to it for our technology, what is it going to cost us. Another matter of world affairs ignored by American media with its obsession for things it thinks will attract viewers/readers.
Quote:
A Chinese consortium is buying Glencore Xstrata's copper mine in Peru in a $6bn (£3.6bn) all-cash deal, marking one of China's largest mining acquisitions.
The mine is expected to produce more than 450,000 tonnes of copper a year in its first five years.
China relies heavily on the metal, which is used in electronics production.
China is the reason the price of copper skyrocketed. Makes sense they would buy the source. Now China will absorb not just the copper, but also some of the profits too. Sweet deal!
Why should we care? After all, it's far from the USA.
Yeah, but what is copper used for? If we lack access to it for our technology, what is it going to cost us. Another matter of world affairs ignored by American media with its obsession for things it thinks will attract viewers/readers. BBC News - China group buys $6bn Glencore Peru copper mine
Yeah but so what? Why should some country deserve the mine over another? Well, other than Peru...
Why should we care? After all, it's far from the USA.
Yeah, but what is copper used for? If we lack access to it for our technology, what is it going to cost us. Another matter of world affairs ignored by American media with its obsession for things it thinks will attract viewers/readers.
Is it China the whole country or some company in china?
Copper is useful for plumbing and electrical work.
It was bought buy a Chinese Consortium and you can expect more of these deals, as the largest Bank in China has now opened in Peru to facilitate/finance these deals.
Yeah but so what? Why should some country deserve the mine over another? Well, other than Peru...
Peru never owned the mine. The land is leased to a Swiss company and they pay a percentage of everything mined to the Peruvian Gov't. The only difference is now the Chinese have to pay!
Peru never owned the mine. The land is leased to a Swiss company and they pay a percentage of everything mined to the Peruvian Gov't. The only difference is now the Chinese have to pay!
If the government leases the land to a private company, then Peru owns the mine.
China will be getting the bulk of the benefits, because now they will get the product as well as part of the profits.
Meanwhile,we're diving head on, into another mess,called Ukraine !!
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