"Solgold shares jump on Ecuador Drill^"6.6.18, page-7

Hi Sol1,

Thought I'd just cut-and-paste a section that may have been lost in translation in your post above:

According to some producers the same is true of copper, although because it is difficult to judge China’s future demand, opinions vary as to when supply will become inadequate, in addition to which copper’s use as a ‘fiat’ hedging store of value adds to the difficulty of forecasting its price. According to Rio Tinto, one new mine the size of Escondida (over 30 million tonnes of copper and accounting for 5% of global production) will be needed every 15 months for the next ten years just to sustain production, quite apart from Solgold’s assertion that copper’s applications are expanding all the time. For that reason, and because finding and bringing such a mine to production takes ten to fifteen years, majors will be looking a long way ahead.


Quite an order of magnitude difference between 30m oz of copper (as per your post above) and 30m t of copper needed every 15 months ...

Cheers
John