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Bullboard - Stock Discussion Forum Midnight Sun Mining Corp V.MMA

Alternate Symbol(s):  MDNGF

Midnight Sun Mining Corp. is a Canada-based company, which is focused on exploring its flagship Solwezi Project, located in Zambia. Its property is situated in the heart of the Zambia-Congo Copperbelt. It holds a 60% interest in two mineral prospecting licenses, 21509-HQ-LEL and 12124-HQ-LPL, the Solwezi Licenses, which are held by a subsidiary of Kam Chuen, Zambian Highlight Mining Investment... see more

TSXV:MMA - Post Discussion

Midnight Sun Mining Corp > ...out on limb, Spot Copper to spike to $6.00+ USD$/lbs.
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Post by Magnum2 on Jan 02, 2021 1:04pm

...out on limb, Spot Copper to spike to $6.00+ USD$/lbs.

(Adds additional details on mining production, context)

SANTIAGO, Dec 31 (Reuters) - Chile's manufacturing output dropped 1.7% year on year in November, government statistics agency INE said on Thursday, falling short of expectations as the coronavirus pandemic continued to weigh heavily in the world's top copper producer.

The country's copper output fell 2.1% to 493,538 tonnes in November, the agency said. Chile's total copper production through November hit 5.29 million tonnes, an increase of 0.2% over the same period in 2019. Manufacturing output was hit hardest by a sharp drop in the production of chemicals in November, the government said.

The statistics agency's mining production index (IPMin) crept up 0.6% year on year, boosted primarily by a spike in the production of non-metalic metals caliche and ulexite. Copper processing and extraction - the dominant mining activities in Chile - fell 1.3% overall, primarily due to reduced copper output, the agency said.

The copper industry has nonetheless remained a bright spot in Chile's otherwise ailing economy. The country's large copper mines have implemented strict sanitary measures and continued to churn out copper even at the height of the pandemic.

(Reporting by Dave Sherwood; Editing by Hugh Lawson)

4224; Reuters Messaging: dave.sherwood.thomsonreuters.com@reuters.net))
Comment by Magnum2 on Jan 02, 2021 1:12pm
Just as US Lumber was almost $900 just days ago...spot Copper IMO will in the next 6 months start to get crazy outta control as the COVID disruptions, closures, curtailments have now tipped the supply/demand equation beyond repair. Couple this with economies planning to fast track infastructure buildouts to revive economies and fightback against massive unemployment numbers. As usual economies ...more  
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