Copper Miners Earning Huge Profits
Great commodities interview with Mohr, she chimes in on copper at around the 4:10 mark. Salient points:
At $3.50 copper, base metal majors are earning huge margins of about 60% over full break even costs (including payback of capital).
Demand grow for copper over the past 5 years has "enormously" outpace mine supply
World consumption exceeds mine production...real deficit situation...bigger next year.
Would I be correct in thinking that we entering a great window of opportunity to take new discoveries to market?
Selling new copper porphyry discoveries at a time the would be buyers are flush with cash—and the supply dificit is increasing—is what I'd call having the 'stars line up.'
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Commodities : September 22, 2010 : Scotia's Commodity Price Index [09-22-10 11:40 AM]
BNN speaks to Patricia Mohr, vp economics, Scotianbank about how much gold's rise is trickling down to other commodities