Copper Discussions, page-2

Good initiative @RhysT.

While copper still isn't in exceptionally different demand to the usual pattern (see China's present manufacturing needs-and they alone are responsible for over 40% of the global use of the red metal)- the speculative traders are having a field day with the possibility of the Escondida labour talks stalling like last year, and screwing up the supply chain.

Chile of course are the largest producers of copper by a mile, and the unions there have become increasingly aware of the spotlight on them by world traders, using this to their advantage by threatening strikes and driving up their salaries. This time they seem to have been offered a US$34000 bonus each, to which they are disdainful for the present, so quite a powerplay in motion in Chile. With falling grades at the older mines and increasing costs to get the copper out in increasing quantities, these factors are putting pressure on Chile's copper mining companies big time, especially when you add rising labour costs into the mix.

The MOD/MTR JV couldn't be in a better place than Botswana IMO. Still low stable costs and wages, a stable Govt and access to many well trained employees, many of whom were made redundant by the failed BCL plant (over 4000 if I remember correctly?)

Add likely growing future demand for copper by improving global infrastructure, the advent of EVs and renewables tech plus the low chance of finding other substitution metals and it's easy to see why traders and investors are getting increasingly interested in this once lowly base metal!

And here's my Powerpoint presentation !