Some key highlights...
Operational issues and low copper prices are affecting current and future mine production plans. Estimates of lost global production in 2015 amounted to over 1.2 million tonnes. Despite a reduction in demand growth in 2015, analysts believe the market recorded only a small surplus. Similar levels of production cuts have already been made for 2016, and while mine production is expected to grow in 2016, analysts now project it will be far less than previously forecast. Market fundamentals over the medium to long-term remain positive as low prices, lower grades and ongoing operational difficulties and project delays will continue to constrain production growth and investment.
Copper Development Projects
very small mention of SC...
Other Copper Projects
The pre-feasibility study continued to progress at our 50% owned Zafranal copper-gold project located in southern Peru and is now expected to be complete in the first half of 2016. We continue to minimize expenditures on all other copper projects. Targeted studies continue at Galore Creek, Schaft Creek, San Nicolas and Mesaba projects as we further explore ways to enhance the value of these projects.
Our copper production for 2016 is expected to decrease and be in the range of 305,000 to 320,000 tonnes compared with 358,000 tonnes produced in 2015. Highland Valley Copper is expected to decrease production by approximately 35,000 tonnes as a result of mining lower ore grades. Production from Quebrada Blanca is expected to decrease by approximately 6,500 tonnes as grades are declining with the depletion of the orebody. Production from Antamina rises slightly in 2016. Duck Pond was permanently closed at the end of June 2015.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aTCK-2345566&symbol=TCK®ion=C
