Interesting day for the copper industry with the election of leftist Gabriel Boric as Chile's president resulting in the Chilean stock market and peso taking a hit.
While Boric is a supporter of green investments and technology which heavily relies on copper, he is firm on increasing mining taxes, blocking project development, threatening expropriation, and opposing mining initiatives that destroy the environment, specifically the $2.5B Dominga copper project.
There is widespread agreement that copper demand will be increasing given its requirement in green technology so we can estimate an approximate supply gap of 6MT by 2031 and 8MT by 2035.
Right now, Chile produces approximately 5.7MT of copper so losing this production could have devastating effects on the supply and price of copper.
Essentially "by 2031, you need another Chile".
This is a massive opportunity for projects in other regions worldwide to benefit from as we will need another main copper supplier.
The USA is a top jurisdiction to consider and I'm specifically looking at US Copper Corp ($USCU.v $USCUF).
$USCU is a junior exploration and development company focused on advancing its Moonlight-Superior Copper Project in Plumas County, California to the production stage. The project includes copper sulfide and copper oxide resources with silver and gold credits in three deposits. Plus, the recent results from $USCU's drill program at the Superior Deposit all either met or exceeded expectations and will substantially enhance the project's economics.
It is going to be interesting watching this play out but $USCU has a solid chance to experience exponential growth following this development IMO
https://www.cnbc.com/video/2021/12/20/international-mining-projects-could-benefit-from-chiles-copper-supply-says-consultancy-firm.html?__source=sharebar%7Ctwitter&par=sharebar&t=9EGs4FHgTKLiMY9Xj0qIcA&s=08