BASE METALS

Copper thefts causing havoc

Thefts on rise as red metal price remains relatively strong

Staff reporter

This article is 6 years old. Images might not display.

Thieves dubbed "moles" are stealing copper by moonlight from moving trains in Chile's Atacama desert, Bloomberg reported.

About 40 incidents were reported in the first half of this year, up from six in 2014, the prosecutor's office in Antofagasta told the wire service.

In Canada, Ottawa's train service was disrupted this month "due to vandalism".

Local media reported valuable copper cable had been stolen, bringing the O-Train service to a stop for two days.

In Australia, the Master Builders Association of South Australia warned last month that Adelaide's construction industry was under siege, with copper theft on the rise from building sites.

The copper price has slid in recent weeks over escalating trade tensions but remains around a three-year high.

Copper was worth around US$6,200 per tonne on the London Metal Exchange on Friday and $2.82 per pound on the spot market.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.