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03.11.26 - 04:12
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Kazakhstan′s Copper Heist? Turkish Tycoon Readies Arbitration After Astana Gives His Mines To A Week-Old Startup (ZeroHedge)
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Kazakhstan's Copper Heist? Turkish Tycoon Readies Arbitration After Astana Gives His Mines To A Week-Old Startup
Kazakhstan has spent the past four years telling foreign investors that the Nazarbayev era of cronyism is over.A Turkish billionaire who sank roughly $200 million into two Kazakh copper mines is about to test that claim in front of the World Bank.According to Turkish business outlet Patronlar Dünyası, Robert Yüksel Yıldırım's Turkish-Dutch CoreX Holding is preparing to file at ICSID, the World Bank's International Centre for Settlement of Investment Disputes, after Kazakhstan's government sat on its acquisition of the Koktaszhal and Kyzylshoky copper deposits in the Karaganda region for two years... and then handed the subsoil rights to a local company that had existed for about a week.
Robert Yuksel Yildirim.Source: Yildirim Holding AS
CoreX says it is preparing claims both in Kazakhstan and internationally, demanding either a reversal or compensation for what...
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30.10.26 - 12:30
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Key China Copper Gauge Flashes Warning As Mysteel Global Warns Metal Is "Sold Out Everywhere" (ZeroHedge)
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Key China Copper Gauge Flashes Warning As Mysteel Global Warns Metal Is "Sold Out Everywhere"
Deglobalization, decades of underinvestment in mining, rising copper demand tied to the AI data center buildout, and surging US stockpiling ahead of potential import tariffs have pushed copper prices to record highs, approaching $15,000 a ton in London.The resulting supply squeeze is forcing Chinese buyers to compete more aggressively for physical metal, driving the Yangshan premium, which measures what importers pay above London benchmark prices, to its highest level on record, Bloomberg reports.The Yangshan premium is the extra amount Chinese buyers pay above the London Metal Exchange benchmark to secure physical imported copper. That metric topped $200 a ton, according to Fastmarkets data going back to 2017.Xiao Chuankang, a copper analyst at Shanghai-based commodities consultancy Mysteel Global, was quoted by the outlet as saying that the industrial metal is "sold out everywhere" and "the premium...
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