Replies to post #6531 on McEwen Mining Inc (MUX)

[JD400]

Rising copper prices have majors looking
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Barrick Gold “actively looking at copper projects” as M&A window closes amid price gains

The copper price has been hovering around $10,000 tons in the last seven days – its highest price in a decade – partly owing to concerns about supply. A strike among port workers in Chile followed by the country’s finance committee proposing new royalties on copper have raised serious concerns about short and long-term future supply.

According to a Goldman Sachs report today, the world copper market would flip into a deficit this year. “Our commodities team [is] expecting a 242,000 t deficit in 2021,” the bank said. “Chile will put a lot of pressure on its copper mines,” said Bristow.

He estimated that net revenue from copper would comprise about a fifth in the current financial year, up from 13% of total last year. Revenue from copper in the first quarter was 31% higher, Barrick Gold said.

Full read here>>>>>>> https://www.miningmx.com/news/gold/46089-barrick-gold-actively-looking-at-copper-projects-as-ma-window-closes-amid-price-gains/
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