GREY:XEBEQ - Post by User
Comment by
tamaracktopon May 05, 2021 1:05pm
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Post# 33132881
RE:Copper is Gold
RE:Copper is Gold Copper is better than gold. Copper is up 91% in the last year. Gold is up 4.5%.
Copper is 5 cents from its year high, and 33 cents from its all-time high.
I realize that copper is off-topic but some facts are nevertheless interesting during this boring time. New copper production is essential for a successful transition to renewables.
There are 44 to 99 pounds of copper in a conventional car, depending on the type of car. There are 180 pounds of copper in an electric vehicle. That's 45,000 tonnes of copper per year for Tesla alone.
A single wind farm can contain between 4 million and 15 million pounds of copper. A single wind turbine holds almost 4 tonnes of copper per megawatt. It's not a freakish phenomenon that crimes at wind farms are soaring. A single turbine holds about $20,000 worth of copper.
While it's true that copper is the most recyclable of industrial metals, many people are unaware that electrical wiring has to use newly-mined copper. Recycled copper can't be used for wiring.
"the largest fraction of copper in use today is in the form of electrical and electronic wire and cable. These products require the very pure sort of copper that flows from the mining-smelting-refining process. The copper in ordinary copper house wire, for example, has to be at least 99.9% pure because even small amounts of impurities would reduce its electrical conductivity. As little as five one-hundredths of a percent (0.05%) of phosphorus or eight one-hundredths of a percent (0.08%) of iron reduces copper's conductivity by 35%."
The future for copper looks pretty bright to me. It's vital for a successful transition to renewables.
I suggested here a few months ago that junior copper miners with proven deposits would be a good way to play the transition to "building back better". I suggested them as a back-door and diversified way to play this theme.
The good ones are obvious take-out targets for the majors.
In my opinion, there's a pretty good case for it.