Can copper be the metal of the future? Copper is the third most used metal on earth, right behind iron and aluminum. Thanks to its exceptional properties, copper is quite literally all around us. It’s used in electricity, plumbing, electronics, high-tech, energy, construction, transportation and machinery, just to name a few.
With the epic worldwide shift to renewable energy and green transportation, the need for copper will continue to grow exponentially. Vast amounts of the metal will be required to generate and store electric power. The burgeoning shift to electric and hybrid vehicles has proved this, as they typically use double or more the copper of internal combustion engine vehicles. According to the McKinsey Global Institute Report, copper demand could soar as much as 43 per cent over the next 15 years, as we move towards a low carbon and more sustainable future.
However, over the next two years, copper supply is expected to face sizeable deficits in the face of strong market fundamentals.
Large operating mines are already witnessing resources dwindling and slow production. Africa has strong potential for supplies, but much of that lies in challenging jurisdictions. That’s why quality projects in countries that are friendly to mining and business will command a premium. ( this report is from 2017 ) not sure if its been updated....just real good, general information!
https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Sustainability/Our%20Insights/How%20technology%20is%20reshaping%20supply%20and%20demand%20for%20natural%20resources/MGI-Beyond-the-Supercycle-Executive-summary.ashx
J 103 this is posted for general interest, while we wait for more news! Chart looks VG!
https://stockcharts.com/h-sc/ui?s=AUG.TO