Copper

Any premium in the US copper price over the LME has now gone. Dr copper predicting world-wide recession.

I'm not sure if the Apache's will trump this, but possibly.

Also not sure if this will affect the upcoming grand supply/demand shortfall that will push copper prices much higher.



A long-delayed copper project in Arizona controlled by Rio Tinto and backed by BHP has been fast-tracked by the Trump White House as the US and China vie for supremacy in the minerals vital to the energy transition and advanced military hardware.

Tied up in environmental and court appeals, native title and regulatory red tape for more than a decade, the Resolution Copper mine is among a handful of 10 projects granted ‘‘Fast-41’’ status by the White House over the Easter weekend.

The application of Fast 41 to streamline the approvals process behind critical minerals production is in response to President Donald Trump’s executive order, issued in March, aimed at creating jobs, fuelling American prosperity and significantly reducing the US’s reliance on foreign powers.

The proposed underground mine, around 100km east of Phoenix, Arizona, is expected to become the largest copper mine in North America, capable of meeting up to 25 per cent of total US copper demand each year.

As the trade war between the US and China heats up, both nations are keen to access key commodities such as copper, which is used in aircraft, naval vessels, wiring for guidance systems and ammunition, as well as being core to renewable energy technology and batteries.

When is production due to commence on this project in Phoenix?

peter2 said:

When is production due to commence on this project in Phoenix?

Click to expand...

Unless the Apache's move their sacred prayer site, never.

and a bit of a spike in copper.

There was a fatal accident at the massive Antamina copper and zinc mine in Peru A senior manager was killed, another worker injured, and the whole operation has been shut down for an indefinite period.

The mine is run by BHP, Glencore, and Teck, and with the mine producing over 400,000 tonnes last year, experts say any long pause could squeeze global copper supply.

Jon Barnes, copper analyst at market intelligence firm Project Blue, estimates that the copper demand boost from higher military spending is about 500,000 tonnes per year, or about 1.5 per cent of annual demand. The exact amount is difficult to quantify due to the secrecy surrounding national weapon stockpiles.

Russia’s war in Ukraine illustrated how existing ammunition stockpiles were “far too low”, particularly for artillery shells, he noted.
“US production of 155mm standard artillery rounds doubled last year, and will double again this year, both to supply Ukraine and to replenish strategic reserves,” said Barnes, noting that each shell contained up to 1kg of copper. Bullets and shells are often made of brass, an alloy of copper and zinc.

David Goldman, head of trading at the Novion Global brokerage, estimated that rising defence budgets and rearmament were increasing the copper demand from western militaries by between 15 and 18 per cent per year. This was a “critical factor underpinning the metal’s market tightness and long-term demand outlook,” he added.

Yet a report from the Carnegie Endowment think-tank in February found that mineral inventories in the US National Defense Stockpile had dwindled since the 1950s, and would cover less than half the military demand in a hypothetical one-year conflict.

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from a FT article