Teck very positive on copper fundamentals

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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youngmoney

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Teck very positive on copper fundamentals

posted on Aug 05, 2020 08:46AM

Latest presentation- July 28th

https://www.teck.com/media/Jul-2020-Investor-%20Meetings.pdf

QB2 Rebalances Teck’s Portfolio Delivers on copper growth strategy

• Rebalances Teck's portfolio over time to make the contribution from copper similar to steelmaking coal

• QB3 and other copper development projects could further increase copper exposure and diversification

Supply Continues to be at Risk Copper Demand Improves

• Stronger cathode demand in China putting upward pressure on copper prices

• Demand Ex -China improving slowly

• Government closures of mines, ports and distribution keeping concentrate market tight and impacting cathode supply

• Concentrate market tightness into 2020

• Scrap shortages lowering cathode supply and increasing cathode demand

• Copper metal stocks continue to fall

• Mine growth to resume in 2021; peak in 2023 but projects deferred due low prices