The copper supply is tight

The discoveries of large copper deposits are becoming fewer and fewer. Also, the time between discovering a new deposit and starting production has lengthened as costs have risen. Between 1990 and 2019, 224 copper deposits were discovered, of which only 16 were discovered in the last ten years. In addition, new deposits tend to have lower copper grades. And copper is needed in battery storage technologies and in electromobility, and the trend is rising. While around three million electric vehicles were sold in 2020, this figure could rise to 70 million by 2040.

For example, the US investment bank Jefferies is optimistic about copper as a commodity. This is because there is concern about the short supply. The US bank refers to production figures from companies that speak of only a slow increase in copper supply. All companies had also had to revise their production forecasts downwards. Among them were, for example, such well-known companies as Anglo American, Rio Tinto, Freeport-McMoRan or Vale. The so-called majors, which had previously reported their forecasts to Jefferies, are responsible for around 57 percent of the global copper supply. Their production volumes increased by a meager 0.9 percent in the September quarter compared to the previous year. Although Jefferies said China’s energy crisis and the weaker property market could hurt the copper price somewhat, it said this was only temporary and for a longer period, the US bank is optimistic about the copper price. Companies with copper in their projects are therefore in the spotlight, such as Torq Resources with its gold exploration projects in Chile, with gold and copper being the main focus.

Torq Resources – https://www.youtube.com/watch?v=zIF_oyxVLXI – has just acquired an option on a new gold-copper project in Chile.

Aurania Resources – https://www.youtube.com/watch?v=tEuKOpohjZI – is also focused on precious metals and copper. The focus is on Peru and Ecuador.

Current corporate information and press releases from Torq Resources (- https://www.resource-capital.ch/en/companies/torq-resources-inc/ -) and Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -).

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