It's a slow day, so here's something from BHP about their future copper expansions. Any of the big miners that come out and state that they are looking for more mine expansion we can assume also reflects on the Teck mindset. Even though the Chinese economy has slowed down, there is still a need building because of depletion in the current mines. It's interesting that the average cash cost per pound is $1.60. We really should have a substantial value if we come in at a negative number still, and being in Canada. Some town in Peru has voted against the Candente property. That sets a bit of a chill in the whole region.

"The big copper push by BHP is backed by its bullish assessment of where the copper market is going. Others share its bullish assessment, as has been reflected in copper withstanding all of the global economic challenges that have made other commodities go weak at the knees. It is trading at $US3.75 a pound, which is as good as the producers can hope for when (on average) their cash costs of production come in at about $US1.60 a pound.

BHP -- and the broader market -- expects present global output of 15 million tonnes will continue to decline because of depletion of resources and lower ore grades.

Throw in some resource nationalisation, environmental constraints and operating cost escalation, and it is clear there has to be some big-time investment in new mines and expansions of existing operations with the supporting reserve base. Why, even Olympic Dam will have its day in the sun."

...and a snippet from further down,

"They should remember that the Chinese are seriously short of copper units.

And they don't like being overly reliant on the likes of BHP and Chile's Codelco to fill their copper smelters."

--http://www.theaustralian.com.au/business/opinion/bhp-billiton-sets-its-sights-on-copper-after-assessment-of-bull-market/story-fnciil7d-1226486892717