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Old 04-14-2014, 07:18 AM
 
Location: Vegas
1,789 posts, read 1,798,953 times
Reputation: 1767

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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.
Read more @ BBC News - China group buys $6bn Glencore Peru copper mine
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Old 04-14-2014, 05:41 PM
Status: "Hope is last to lose it..." (set 1 day ago)
 
5,214 posts, read 8,037,624 times
Reputation: 4269
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!
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Old 04-14-2014, 06:15 PM
 
6,227 posts, read 6,379,313 times
Reputation: 2861
Is it China the whole country or some company in china?

Copper is useful for plumbing and electrical work.
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Old 04-14-2014, 07:15 PM
 
Location: In the heights
22,156 posts, read 23,683,428 times
Reputation: 11625
Maybe better for the US to pour matching funds into graphene research?
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Old 04-14-2014, 07:38 PM
 
Location: Gatineau, QC, Canada
3,402 posts, read 4,449,460 times
Reputation: 4409
Quote:
Originally Posted by sargentodiaz View Post
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...
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Old 04-14-2014, 07:58 PM
 
Location: Miraflores
786 posts, read 895,355 times
Reputation: 1531
Quote:
Originally Posted by sargentodiaz View Post
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.



Read more @ BBC News - China group buys $6bn Glencore Peru copper mine
It was published in today's Wall Street Journal!
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Old 04-14-2014, 08:02 PM
 
Location: Miraflores
786 posts, read 895,355 times
Reputation: 1531
Quote:
Originally Posted by NJ Brazen_3133 View Post
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.
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Old 04-14-2014, 08:04 PM
 
Location: Miraflores
786 posts, read 895,355 times
Reputation: 1531
Quote:
Originally Posted by Jesse44 View Post
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!
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Old 04-14-2014, 08:57 PM
Status: "Hope is last to lose it..." (set 1 day ago)
 
5,214 posts, read 8,037,624 times
Reputation: 4269
Quote:
Originally Posted by alpineprince View Post
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.
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Old 04-14-2014, 09:26 PM
 
4,654 posts, read 3,711,178 times
Reputation: 1408
Meanwhile,we're diving head on, into another mess,called Ukraine !!
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