We have more money coming into the Copper mining sector. The most important now is that the industry insiders are buying in.
TNR Gold Los Azules Copper M&A: Barrick In Talks With Chinese Miner Zijin On Pascua-Lama Investment.
Argentina comes to the forefront of mining M&A activity with this report about Barrick's talks with another Chinese miner. Los Azules copper is located in the same province San Juan in Argentina and will benefit from any potential development at Pascua Lama. China is very active in Argentina. Trade and military cooperation agreements were signed and currency swap line is in place now. Recent change to the investment rules will allow more investment into the very lucrative shale oil sector in the country. Next year elections should be changing the investment climate for the better as well continuing this trend. Read more."
TNR Gold Receives Royalty From McEwen Mining On "One Of The Largest Undeveloped Copper Projects".
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Billionaire Buying Buoys Southern Copper’s Stock.
German Larrea, the billionaire behind Grupo Mexico SAB (GMEXICOB), is purchasing stock in mining unit Southern Copper Corp. (SCCO) to reinforce confidence amid falling metal prices.Larrea, Mexico’s eighth-richest man after telcommunications mogul Carlos Slim, has bought more than 1.8 million shares in Southern Copper since July 30, including 1 million over a three-day period, according to data compiled by Bloomberg. Management at Southern Copper, which had the most insider buying in the U.S. last week, bought back more than 12 million shares this year, according to U.S. Securities and Exchange Commission filings.Larrea’s buying “helped to support the stock” as copper prices slid 11 percent this year, according to Garrett Nelson, an analyst at BB&T Capital Markets in Richmond, Virginia. Buybacks of Southern Copper, which is controlled by Larrea’s Grupo Mexico, show confidence in the company and future copper prices, Nelson said in a telephone interview.“Larrea has a fair amount of confidence that the stock is undervalued,” Andreas Bokkenheuser, an analyst at UBS AG, said in a telephone interview from New York. “The buyback, whether at corporate level or ownership level, reinstalls investor faith in the shares.” Read more on Bloomberg."