- Sprott Asset Management, a subsidiary of Sprott Inc. (TSX:SII), announced that the Sprott Physical Copper Trust (TSX:COP.UN) signed an arrangement with a specialized trading house to ship COMEX-registered copper to the United States
- The arrangement will allow the Trust to participate in an arbitrage opportunity between COMEX and the London Metals Exchange stemming from potential U.S. tariffs on copper imports
- Sprott is a global asset manager focused on precious metals and critical materials investments, including exchange-listed products, managed equities and private strategies
- Sprott stock has added 23.04 per cent year-over-year and 186.65 per cent since 2020
Sprott Asset Management, a subsidiary of Sprott Inc. (TSX:SII), announced that the Sprott Physical Copper Trust (TSX:COP.UN) signed an arrangement with a specialized trading house to ship COMEX-registered copper to the United States.
The arrangement will allow the Trust to deploy a portion of its copper holdings into an existing arbitrage opportunity between COMEX and the London Metals Exchange stemming from potential U.S. tariffs on copper imports.
According to Tuesday’s news release, “the Trust’s copper will be shipped to the U.S. and subsequently replaced by the counterparty at a location of the Trust’s choosing,” with any resulting profits to be paid in cash.
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“This transaction demonstrates our ability to create additional value for our unitholders,” John Ciampaglia, Sprott Asset Management’s chief executive officer, said in a statement. “We will continue to explore opportunities to capitalize on geographic price discrepancies as we scale up the fund.”
About Sprott
Sprott is a global asset manager focused on precious metals and critical materials investments, including exchange-listed products, managed equities and private strategies.
Sprott stock (TSX:SII) is up by 0.18 per cent trading at C$60.77 per share as of 9:35 am ET. The stock has added 23.04 per cent year-over-year and 186.65 per cent since 2020.
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