Activities related to Cesco Week and the CRU World Copper Conference concluded this week with more questions than answers. Leading copper mining executives, copper consumers (smelters) and financiers discussed the future of the industry. The prevailing consensus was that demand for copper would remain healthy and prices should improve in the future. Meanwhile, copper producers grapple with an increasing need for water and power to process more rock to produce the same amount of copper because of declining ore grades. Smelters were also discussing new ways to reduce the amount of pollution they generate.
Alamos Gold and AuRico Gold plan to merge, creating a new, leading intermediate gold producer (MergeCo). The deal, valued at $1.5 billion, combines two complementary asset portfolios, including two gold mines: AuRico’s Young-Davidson mine in Ontario, Canada, and Alamos' Mulatos mine in Sonora, Mexico.