Ann: Corporate Presentation - IMARC Sydney, page-42

One of may sources for market intelligence on CU is S& P. I trust it the most because Daniel Yergin who won the Pultizer prize for his work on Oil before becoming Chairmain of the worls Oil council . Id now head honcho there and has been noting the coming shortage of Cu and the danges theirn for derailing the gren transition).
I've pulled thsi slide form Thurdays briefing for us to examine.


Look at the right hand graph (black & white) showing the concentate deficit. Note there wont be a huge regiend copper defcit (which affects prices) but thre wil be a (dramatic) concentrate defict first say mid- 2024. We will be producing concentrate. it kinds explains th emixed signals and whay Tony Ploglaise said Traifigura woudl struggle to source concentrate. Word form Minign news is thta the smelters are already redcuing treatemnt charges in South America by around $80/T to help source contentrate. I wont insult peoples intellignce of the effect (and forgive me for having done that before). Remembering I try to allow for my experience and training versus the averge HC reader. Hopefully mostly that manifests it's by repititiveness.

Keep the faith. (Like marnus Labuschange, haha).

All IMVHO.
PS I hope you guys eyes are open after yesterday big win in the Circket .