Copper needs to reach $12,000 a ton to incentivize large-scale investments in new mines, according to Olivia Markham of the BlackRock World Mining Fund. Current prices are below the required levels to motivate new greenfield production. This forecast is supported by the analysis showing the significant costs miners face in building copper projects. The metal’s price hit a two-year high near $10,000, but further gains are needed to avert major deficits during the energy transition. Demand softness in China has been evident, but the industry consensus suggests that the tightening supply may push prices higher. As the mined copper shortage persists, the question arises whether this marks the beginning of a bullish trend that could see prices break records. Copper traded higher on the London Metal Exchange, nearing a 15% year-to-date gain. Markham’s insights shed light on the financial considerations driving future investments in the copper market.
Copper Prices Need to Reach $12,000/ton for New Mine Investments, Says BlackRock Manager
Date:
Updated: [falahcoin_post_modified_date]
More like thisRelated
Revolutionary Small Business Exchange Network Connects Sellers and Buyers
Revolutionary SBEN connects small business sellers and buyers, transforming the way businesses are bought and sold in the U.S.
District 1 Commissioner Race Results Delayed by Recounts & Ballot Reviews, US
District 1 Commissioner Race in Orange County faces delays with recounts and ballot reviews. Find out who will come out on top in this close election.
Fed Minutes Hint at Potential Rate Cut in September amid Economic Uncertainty, US
Federal Reserve minutes suggest potential rate cut in September amid economic uncertainty. Find out more about the upcoming policy decisions.
Baltimore Orioles Host First-Ever ‘Faith Night’ with Players Sharing Testimonies, US
Experience the powerful testimonies of Baltimore Orioles players on their first-ever 'Faith Night.' Hear how their faith impacts their lives on and off the field.
