MB INTL COPPER CONF: 9 things we learned in Leipzig

The 30th Metal Bulletin International Copper Conference took place at some key junctions for several areas of the market – prices dipped from multi-year highs set in February, treatment and refining charges are also down and massive amounts of cathode are being delivered onto the LME.

Below are some key points of discussion, points and theories that were floated among delegates at the conference in Leipzig. Prices will have to rise further to incentivise new greenfield copper mining projects • Copper prices of $6,000-7,000 per tonne were quoted by analysts as being the levels needed to attract new investment. • Most of the world’s best copper mining areas have already been tapped and ore grades at major mines are declining. • But big potential mining projects are now in either logistically difficult areas or ones with inherent political risk to investors. • “A lot of the world class deposits have already been found and depleted – opportunities that exist are typically going to be in jurisdictions that are difficult to operate in,” Vale evp of base metal sales and marketing Robert Morris said. • “The Tenke [Fungurume] sale to China is an indication of how companies...


Archie Hunter

March 17, 2017

17:55 GMT