Morning Bites (part 2)

🇵🇦Cobre Panama has halted commercial production on the back of the protests which have blocked key supplies to the copper mine, Reuters reports, citing a First Quantum message. However, the company expects operations to resume once the recently started port blockade has been resolved. In our view, were the ongoing supply issues to persist, that might add some support for copper prices. To recap, Cobre Panama accounts for ~2% of global copper output

💎 Stornoway diamond miner is on sale amid financial issues, IDEX reports. The company filed for bankruptcy protection last month, and has now suspended operations at Renard, its only diamond mine (~1% of global rough supply) in Quebec, citing India's two-month rough imports ban as one of the reasons. Overall, the news underpins our cautious view on the diamond sector, amid adverse macroeconomic conditions globally

#copper #diamonds
https://metals-wire.com:3000/news-reports