Liberty Star Uranium and Metals Corp (LBSR)

[mstoneinv]

Even if Elon Musk and Tesla wanted copper in abundance, he would NEVER do a joint venture with some TWO-BIT FLIM FLAM ARTIST who has not proven anything, when the two biggest mining companies in the world, Rio Tinto and BHP Billiton ALREADY have a MONSTER MINE in the works in Arizona, i.e. the Resolution Copper mine.

At peak production, this will be the biggest copper mine in the U.S., producing 100,000 tons of rock a day, and enough copper to meet a quarter of the country’s demand. It could also end up being a financial problem for its owners. The price of copper, along with lots of other commodities, has crashed as China’s economy has slowed. The Resolution mine is essentially an enormous bet that the third-most-used metal in the world is oversold and that prices will rebound by the time the mine opens in several years. “This is a pretty big gamble,” says Dane Davis, a commodity analyst at Barclays. “We’re in a new era for copper, and no one truly knows what demand is going to be like. So I would say this is quite risky.”

With this mine coming into production in Arizona, flooding the US with more copper, mega investors will not invest the billions required to develop another big new copper mine in Arizona.