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%)
Message: Politics Could Hit The Supply of Copper
The price of copper is at its highest for ten years. But supply constraints and a massive rise in demand mean it’s not going to stop there, says Dominic Frisby.
Electric cars require three times more copper than traditional cars
© Getty Images
Mining analyst Mark Turner, who writes the IKN Weekly, a newsletter focused on mining in South America, recently told his subscribers in no uncertain terms to cut their exposure to Peru.
“Sell Peru”, he said. It is, as far as mining investment is concerned, “off the map”. In fact, he went as far as to recommend shorting mining companies with significant exposure to Peru.
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Peru is the world’s second largest producer, after Chile. It produced 2.2 million tonnes of copper last year, roughly 12% of annual supply. But it doesn’t look like it is going to be the world’s second largest producer for much longer.
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