The initiatives of Rio Tinto ADR (NYSE: RIO) include its Oyu Tolgoi copper-gold mine (Mongolia) now undergoing commissioning. The company is targeting initial commercial production for the end of JUNE. The Oyu Tolgoi mine is positioned to be one of the world's top five copper producers.
The demand for copper is increasing and the anticipated surplus is not going to be there .
The land slide in Kennecott Utah crippled its Bingham Canyon Mine.
Chinas although not the 8 % growth but 7.5 % is not bad or far off, so demand is not decreaseing.
Yesterdays (FCX) has invoked the force majeure clause for shipments from its Grasberg mine in Indonesia
should be down for a couple of months.
Building in the U.S.A is above what was anticipated , so increased demand .