A user on another forum site posted this. Thought its important for FXR holders..probably not only important to FXR holders but other copper producers..but I'm a Fox holder so see the article below.
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RESOURCES
Bloomberg TV
Copper Demand Rises on `Unimaginable' China Growth
By Matthew Craze and Cris Valerio
March 23 (Bloomberg) -- Codelco Executive President Jose Pablo Arellano, who runs the world's largest copper company, said demand for the metal will continue to rise through next year because of ``unimaginable'' new construction in China.
China, the biggest consumer of copper, is ``back in the market'' after record-high prices in May last year forced some manufacturers to slow purchases and rely on their stockpiles, halting the rally, Arellano said. Copper has jumped 27 percent since reaching a 10-month low on Feb. 2.
``They are building cities at an unimaginable rate,'' Arellano, 55, said yesterday during an interview at Codelco's headquarters in Santiago. ``Urbanization in general demands a lot of copper. China is going precisely through that stage of development.''
Codelco, which is owned by Chile's government, previously miscalculated China's role in a copper boom that began in 2002 and saw prices jump 65 cents a pound at the end of 2001 to a record $4.04 on May 11.
Arellano's predecessor, Juan Villarzu, predicted in 2006 that prices would average $1.50 to $1.70 a pound. Prices averaged about $3.06. A year earlier, the company predicted prices would fall.
Arellano, who took over from Villarzu in March 2006, declined to provide a price forecast today. He said strong demand for copper will remain strong for ``at least this year and half of next year.''
Reason for Optimism
``There's reason to be optimistic about this market, particularly when you look at the Asian sector,'' said William O'Neill, a partner at Logic Advisors in Upper Saddle River, New Jersey. ``There's been a constant underestimation for demand.''
Copper prices in New York rose to the highest in more than three months yesterday as China's copper imports in February doubled. Inventories in London Metal Exchange-monitored warehouses have declined for five consecutive weeks, while stockpiles on the Shanghai Futures Exchange have more than doubled, signaling increased imports by China.
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This is all looking really good for FOX with their second Ball mill also being installed during record prices for nickel and copper prices on the move again.
"SECOND BALL MILL INSTALLED
The second Ball Mill has now been fully and successfully installed (Figure 1) and is undergoing commissioning in conjunction with the existing mill. It is expected the addition of this mill will increase overall production throughput by 50% to 45 tonnes per hour. As previously announced on 2 March 2007, the low grade nickel stockpiled on the surface is currently being used to
produce a bulk nickel and copper concentrate prior to underground production commencing in early April 2007."