Company Vast Resources, Australia, sold the first batch of copper concentrate from the new field. Manaila Mine is located in Romania. Batch size was 450 tons. The proportion of copper contained in the concentrate was 21.2%. His work mine began in mid-August. The company's management has planned an initial open pit mining of raw materials. In the future, the underground mining of ore will be applied. As for the raw material base of the mine, it includes ores. The main components in them — copper, zinc, lead, silver and gold. Currently, the company has focused its efforts on obtaining and processing of raw materials for the production of copper concentrate. In the future, it will be launched production of zinc and lead concentrate. This is the second project of Vast Resources in Romania, another company is implementing in Zimbabwe.
The analysts continue to cut forecasts for copper. Experts Credit Suisse made an adjustment to the level of 7% in the direction of lowering the average cost of the metal. According to their estimates in 2015 the price per tonne will be 5.673 thousand. USD. Ikvartal forecasts for 2016 were also revised the year. The assessment was impaired by 17% to reach 5 thousand. USD / ton. In IVkvartale quotes and all assumed at the level of 4.6 thousand. USD. Experts continue to talk about excess copper production over demand. In 2015, the surplus will reach 97,000 tons. In 2016 the figure threatens to rise to the level of 298,000 tonnes. In 2017, the result was 372 000 tonnes. It was only in 2018, analysts are counting on a deficit of copper at 103 000 tonnes. As for lead and zinc, the professionals perceive these metals very negatively. The reason is the reduced demand from China.
Analysts at Societe Generale said in its monthly report, also show a decrease in consumption. If in 2014, the drop was 4.5%, the rate in 2015 will fall to 2.5%. Slower growth rates due to the economic situation in China and other countries. In 2014, the increase in delivery volumes was observed due to the expansion of working mines. In 2015, production volumes depend on the extraction of raw materials in new mines. And it's almost a guaranteed drop in the consumption of copper. It is expected that this year the production of raw materials will increase by 4.6%. In 2016, growth of 2.6%. Capacity will increase the level of production, respectively production of refined copper. At the same time for 6 months 2015 production of copper fell nearly 650 thousand. Tonnes.