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Thaihot concern: global copper prices fell 8% to two weeks this year copper production does not cut the price of cuprous oxide []

Release :txteho Navigation:2343Times

    Paris storm over the weekend triggered fears of the market this week, the market risk aversion, capital have flocked to hedge assets. The dollar is already the pressure on prices, sluggish demand of copper brought more heavy blow. Just more than half of November, prices have fallen more than 8%.
    Although copper prices plunged, November 16 in Chilean mining minister Aurora Williams Aurora Williams in Shanghai accepted an exclusive interview with 21st Century Business Herald said: Copper Mine in Chile total output this year will not be reduced, "as part of the mining companies will reduce production, but at the same time, we will the new mining enterprises to enter the market."
    "Copper is crucial to Chile and China's economic growth of the Chilean mining also has a important influence, for 47% of the Chilean copper production was exported to China. At present, Chile copper production is basically stable, but the demand from overseas is not high, which has formed a certain impact on the Chilean mining industry." Aurora Williams said.
This is Aurora Williams's second visit to China, the purpose of this visit is to participate in the 45 anniversary of the establishment of diplomatic relations between China and Chile on the occasion of the Chinese and Chilean copper week series of activities and mining seminars. At the same time, she is also focused on promoting the Chilean mining industry, we hope to attract more Chinese investment in Chile to carry out mining investment.
Ning cuts
    For a long time, Chile has maintained the world's largest producer of mineral resources and reserves: the world's mineral reserves accounted for 28% of the world's output accounted for 35% of the world. Under the background of global economic slowdown, copper prices for mineral exports to Chile is even worse, many of the large mining companies had to choose the way of layoffs downsizing, in winter.
Earlier this month, the National Copper Corporation of Chile (Codelco) announced that 3900 people have been laid off, in response to the downturn in prices and weak demand for the industry environment. Prior to this, the world's number one copper producer only revealed layoffs of about 400 people, most of which are senior executive positions. National Copper Corporation of Chile is not the only one to take radical measures of copper producers. Prices have forced other mining giants to consider cutting, delaying new projects and layoffs, to reduce costs and ease the supply glut.
    Aurora Williams admitted that layoffs is one of the ways to reduce the total cost, many mining companies have to maintain profitability in this way. In the current environment, the Chilean government to give the financial budget will be reduced, which means that the future of mining enterprises will be carried out the project or will be reduced.
    But she said that Chile's copper output this year will be at least flat with last year, will not fall. "Some mining enterprises will reduce production, but at the same time, there will be a new mining enterprises to enter the market."
    Aurora Williams said the Chilean government has introduced a series of policies to help small and medium enterprises to survive, specifically including: maintenance price stability, that is, prices continued to fall to market expectations, the state will be price controls, in the market downturn, state-owned mining enterprises to subsidize the purchase of small and medium enterprises in the production of minerals, when the market price increases, small and medium enterprises and then put the new money back to state-owned mining enterprises, which is equivalent to a lending system based on market volatility.
    "The Chilean government has been using a long-term vision to see the development of mining, and the implementation of sustainable development policies, such as: in Chile, mining enterprises are mostly licensed, sustainable development. At the same time, the Chilean government has kept pace with the times, to maintain the production of cognitive and reserves in the world's leading level." Aurora Williams said.
Repan enterprise United mining investment in Chile
    "Chile's mining industry is very developed, we present the overall output of mineral resources, 47% of the output of 60% was exported to china. We sincerely invite Chinese investors to invest in Chile." Aurora Williams said.
She revealed that the Chilean government will assess the country's mining projects every year, the next ten years, the total investment of 42 projects is expected to exceed $77000000000. These projects are 80% copper, gold and other minerals and the remaining 20%. She says many of the projects in Chile, including offshore projects, can be carried out. But there are not any item in the party as investment cooperation, but as a supplier. In the future there will be as funders to cooperative exploitation.
    "Chile's government, especially the Ministry of mines, is attached great importance to foreign investment, since 34% of the foreign investment in Chile is invested in the mining sector. We have specialized investment institutions, foreign investment Association (Note: January 1st will be renamed as the foreign investment organization) to help foreign investors to invest. At the same time, the Chilean government also specifically for foreign tax concessions, in the implementation of certain projects can enjoy the tax exemption." Aurora Williams said.
    Any time investment is a good time"
    In the international energy prices continue to decline, many investors have to withdraw from the traditional energy field, Aurora and Williams gave her attitude: to make investment in the energy sector, any time is a good time.
    Her specific interpretation: investment in the mining industry usually takes a long time is expected, a project is likely to do 30 to 50 years. Now, a variety of mineral prices lower, the cost of raw materials required for mineral development will also be reduced, thereby reducing the cost of the project. At the same time, the entire mining industry is relatively open, the choice of investors, and the market for the needs of the mining industry has been, so it is a good time to invest.

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