The prices of Copper are trading with sideways bias with low activity on trading front. The rise of Chinese reserve requirements and bailout package of Greece didn't bring much volatility in the markets.
The new trading month contract on MCX for June expiry is trading at Rs 328.60 per kg, down Rs 2. The prices are expected to test supports of Rs 324-325 in the remaining session.
In a important news, Codelco San Antonio, Salvador Division general manager Jaime Rojas has said that: We have great expectations from San Antonio project, as it adds new mine production, contributes positively to the sulfuric acid balance in the region and possible future exploitation of important mineral resources of the remaining sulfur old farm.
In this project we have invested significant time and resources of many professionals, who take thanked for their valuable contribution. We hope that the announced deadlines for this stage are shorter and we have our cherished San Antonio giving their input as soon as possible, preferably before 2015 .
According to the feasibility delivered by Salvador Division, which must be complemented by the VCP, San Antonio contains about 170 million tons of reserves, an average grade of 0.5% copper.
The San Antonio project is set for a dry area consists of an open pit mine, near which will be build a crushing plant to deliver a 100% mineral less than ¾ inch. This will be transported by a conveyor belt system, the wet area, consisting of plants leaching, solvent extraction and electrowinning, located nine miles away in the field of Potrerillos.
The production of cathodes, approximately 30 thousand tons of fine copper, will be transported by rail to the port of the boat, using the existing infrastructure for the transport of the cathodes produced electrorefinados Electrolytic Refinery Potrerillos.
