Thank you to Sol 1 for this:
http://hotcopper.com.au/threads/cop...ortage.2861397/?post_id=18751017#.V8OMbDXg2os
"COPPER DEFICIT TO TURNS INTO A SHORTAGE-Wall Street Daily, Jan 14,2015"
Link:
www.wallstreetdaily.com/2015/01/14/copper-prices-deficit/
Extract:
"Rio Tinto told the Financial Times that to meet GLOBAL DEMAND over the next DECADE, the industry will have to add the equivalent of a new Escondida mine EVERY 15 MONTHS. Escondida is the WORLD*S LARGEST COPPER MINE and produces 1.2mt a year. It is owned by BHP and Rio Tinto."
"First Quantum Minerals, a mid-sized miner told the Financial Times that if China, India and Brazil were to reach the same level of copper use as Europe BY 2020, ANOTHER 9 ESCONDIDA*S WILL BE NEEDED."
"Even the HIGHLY ANTICIPATED RESOLUTION mine in Arizona will NOT be able to help out the market, at least for a while."
"With clearly CONSTRAINED SUPPLIES IN THE NEAR FUTURE, GETS T I G H T
and SUPPORT higher prices. ALL of the LARGE COPPER MINING CO*S will BENEFIT from this. And if a WHITE SWAN appears for the copper market in the form of the China State Grid, look out for copper to be red hot. That entity has about $71 billion to spend on upgrading the nation*s grid- a copper intensive undertaking."
