Copper Prices Stabilize as Concerns About Supply Ease
Copper prices stabilized on Monday after Chile allowed Codelco to resume copper mining at its El Teniente mine. Operations at this mine had been halted following the collapse of a section of the mine that resulted in six fatalities. Codelco revealed that the authorities had only allowed them to restart operations in areas unaffected by the mine collapse. Concerns about copper supply on the world market had arisen after the mining accident on July 31 resulted in El Teniente mine being closed by the authorities in Chile. Following Codelco’s announcement on Saturday that they had obtained a go-ahead to restart…