To: thackney
They got greedy and failed to remove overburden resulting in unstable slopes and eventual failure. As far as the price of copper is concerned, that pit is a shadow of its former output when it was high grade low hanging fruit, and realistically shouldn’t affect copper prices or availability (in a world without speculators).
21 posted on
04/22/2013 1:23:19 PM PDT by
SpaceBar
To: SpaceBar
As far as the price of copper is concerned, that pit is a shadow of its former output when it was high grade low hanging fruit, and realistically shouldnt affect copper prices or availability Rio Tinto supplies around 18 per cent of US annual refined copper requirements from the Bingham Canyon mine in Utah.
http://www.riotinto.com/documents/ReportsPublications/corpPub_Copper.pdf
37 posted on
04/22/2013 1:52:28 PM PDT by
thackney
(life is fragile, handle with prayer)
To: SpaceBar
that pit is a shadow of its former output when it was high grade low hanging fruit, and realistically shouldnt affect copper prices or availability (in a world without speculators). Shadow or not, "that pit" is responsible for 17% of US consumption of copper and 1% of total world consumption.
49 posted on
04/22/2013 2:42:37 PM PDT by
okie01
(The Mainstream Media: IGNORANCE ON PARADE)
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