Australia's Cobre gains on securing copper feed, launching recovery programme at Chile project
Wed 03:14
BUZZ-Australia's Cobre gains on securing copper feed, launching recovery programme at Chile project ** Shares of Australia's Cobre CBE.AX rise as much as 6% to A$0.265, marking their biggest intraday pct gain since September 30
** Copper producer says it has secured about 150,000 tonnes of copper oxide material from Chile's state miner ENAMI for processing at its Sierra Atacama project
** Co also begins on-site copper recovery initiative from historical leach pads and ponds, targeting additional low-cost feed for its existing solvent extraction–electrowinning plant
** Adds the initiatives are expected to have relatively low acid requirements, a benefit amid elevated acid prices
** Stock up 150% YTD
(Reporting by Subhalakshmi Dey in Bengaluru)
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