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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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Top Copper Trader: Prices Could Run to $15000 in the Coming Decade

One of the world’s biggest copper traders, Trafigura Group believes the metal could hit $15,000 a ton over the next decade, reports Bloomberg. All as demand from decarbonization efforts produces a potential deficit. However, they’re not the only ones bullish on copper. Goldman Sachs says it could rally to $10,500 over the next 12 months. Citi says it could reach $12,000 by 2022. That’s great news for companies such as Windfall Geotek (TSXV:WIN) (OTC:WINKF) (FSE:L7C2), Freeport-McMoRan (NYSE:FCX). Southern Copper Corp. (NYSE:SCCO), Gratomic Inc. (TSXV:GRAT)(OTC:CBULF), and Cielo Waste Solutions Corp. (CSE:CMC)(OTC:CWSFF). “You can’t move to a green economic environment and not have the copper price moving significantly higher,” says Kostas Bintas, trader at Trafigura, as quoted by Bloomberg. “How can you have one without the other?”

Over the last few days, we’ve seen copper prices run after Chile closed its borders thanks to a spike in CV-19 cases. “The world’s top exporter of the metal closed its borders for a month as reported a daily record of 7,830 infections last week, an all-time high for occupied hospital beds, and a nationwide positivity rate of 11%,” according to Mining.com.

 

https://www.baystreet.ca/stockstowatch/10197/Top-Copper-Trader-Prices-Could-Run-to-15000-in-the-Coming-Decade

 

herbie1 

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