Xstrata Copper (XSRAY.PK) has put a hold on its planned $5.6 billion development at Tampakan. Construction is delayed from 2013 to at least 2015 and production from the mine cannot start earlier than 2019. [...]
Capital expenditures are being curbed throughout the mining industry, and specifically in the copper mining industry. The largest of these is the BHP Billiton (BBL) Olympic Dam project. This delay by Xstrata is one more act that reinforces the sentiment that there will be a copper shortage starting in 2016, thus raising prices."
