Freeport-McMoRan Copper & Gold Inc.'s ( FCX | PowerRating) second-quarter profit rose 2.5% amid a year-over-year rise in metals prices that's prompted the company to consider ramping up production idled during the economic downturn. Australia Small Miners Alarmed By Greens Tax Views SYDNEY -(Dow Jones)- The prospect of the Australian Greens party holding the balance of power in the Senate after Aug. 21 elections is creating fresh uncertainty for mining companies in relation to the government's proposed mining tax, executives and lobbyists said Thursday. STORIES OF INTEREST: Mincor Plans To Increase Nickel Production By Up To 16,000 Tons CANBERRA (Dow Jones)--Australian nickel producer Mincor Resources NL (MCR.AU) Thursday outlined plans to increase nickel production to between 15,000 metric tons and 16,000 tons in the fiscal year ended June 30, 2012. WSJ: China steps up mining buys In the global hunt for mining assets, China has emerged as the buyer to beat: Just a few years after suffering high-profile failures to close big acquisitions, Chinese buyers of all sizes are sealing more sophisticated deals at a higher rate of success. China June Refined Copper Imports Down; May Recover A Bit SHANGHAI (Dow Jones)--China slowed down the pace of its refined copper imports in June on the back of fewer arbitrage opportunities and destocking by end-users amid a revival in downstream demand. Peru's Cerro Verde Seen Boosting Copper Output By End Of 2010 LIMA (Dow Jones)--Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) is expected to increase copper production to 120,000 metric tons per day, from 108,000 tons per day, by the end of the year. Freeport: Tenke Copper Output Seen +16% At 290 Million Lbs In 2011 LONDON (Dow Jones)--Production of copper at the Tenke Fungurume copper mine in Congo is expected to rise by 16% in 2011 from current levels, according to its majority owner Freeport McMoRan Copper & Gold. Peru Government Gives Doe Run 48 Hours To Provide Documents LIMA (Dow Jones)--Doe Run Peru, a unit of U.S.-based Renco Group Inc., has until midnight local time Thursday to provide the Peruvian government with documentation related to restarting its smelter, the Mining Ministry said Wednesday. If it does not comply, the company could face closure, a ministry spokesman said. Chile Codelco Evaluating $500M Expansion At Ventanas Refinery SANTIAGO (Dow Jones)--Chilean state copper-mining company Corporacion Nacional del Cobre is evaluating a $500 million project to increase refining capacity by 30% at its Ventanas division, a Codelco spokesman said Wednesday, confirming a report in daily newspaper La Tercera. ICSG: World Copper Market In 60,000-Ton Deficit In April LONDON (Dow Jones)--The world refined copper market was in a 60,000-metric-ton deficit in April, the International Copper Study Group said Wednesday. WBMS: Global Copper Market In 73,000-Ton Surplus In Jan-May LONDON (Dow Jones)--The global copper market was in surplus by 73,000 metric tons in the first five months of 2010, the World Bureau of Metal Statistics said Wednesday. MARKETS: BASE METALS: Copper Rallies On China Data As Inventories Fall NEW YORK (Dow Jones)--Copper futures rallied Wednesday on hopes of rising demand as inventories of the metal kept falling and Chinese import data showed rising usage.

Source