Nevada Copper Corp (NCU)

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Gold will benefit from gov't stimulus, but copper could run further
Michael McCrae
Friday October 23, 2020 18:24

Kitco NewsShare this article:
The Democrats stimulus plan will be postive for gold, but it will be
extremely positive for copper, said John Thomas Steen, associate
professor at the University of British Columbia's mining school.

On Friday Steen joined Kitco Roundtable to discuss stimulus, renewables
and the electrification of everything, and the knock on affect on
metals, chiefly copper and nickel.
Steen was joined by correspondent Paul Harris; editor Neils
Christensen; and mining audiences manager, Michael McCrae.

Republican and Democrat leadership are negotiating COVID-19 stimulus
package in excess of $2 trillion.

President Biden is ahead in the polls, which could tilt the eventual
stimulus to policy goals favored by Democrats.

"A Biden win is extremely positive for copper. The estimated cost of
preparing the electricity grid in the U.S. ... is about a trillion
dollars.
That's a huge stimulus, but it's a wicked amount of copper,"
said Steen.

Steen argues that the whole story of battery material demand seems to be
driven by cars and Tesla, but that misses a larger picture.

"In the mining space, we have to look beyond the cars.
Cars are getting a lot of attention [due] to the magnetism and charisma
of Elon Musk, but there's a much, much bigger story here.
It's the electrification of everything."

Steen notes that China plans to use its stimulus to decarbonise, and
4,000 tonnes of copper are needed to produce enough solar panels for
1GW of electricity.

Big miners like Rio Tinto and BHP Billiton are preparing for future
copper demand.
In the spring the number two gold miner, Barrick Gold, said it is on
the hunt for copper deals.
Earlier this week Newmont's Tom Palmer told Reuters that copper will
account for up to one-fifth of the metal produced by the end of the
decade given its current project pipeline.

Copper is currently trading at a two-year high.

By Michael McCrae
For Kitco News


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Nevada Copper Corp Ord TSX:NCU Alternate Symbol(s): NCU.W | NEVDF


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Gold & Silver bulls starting to break out > ^ > ^ > ^

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