"The price of copper needs to rise 50 per cent to encourage enough new supply to meet projected demand from the global green revolution, says the chief executive of Glencore.Ivan Glasenberg said the mining industry would need to produce an extra 1m tonnes of the metal a year to meet many governments’ goals of reaching net zero carbon emissions by the middle of this century, yet most of the world’s easy deposits had already been mined.“You will need $15,000 copper to encourage a lot of this more difficult investment,” Glasenberg told the FT’s Global Boardroom summit on Thursday. “People are not going to go to those more difficult parts of the world unless they’re certain.”
XAM Price at posting:
6.3¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)