Also noticed a post (by Fitz65) at EM2 thread today regarding Barrick Gold CEO Mark Bristow's comments (Post #:62997563) , though no link provided:
" In the wake of a Street-beating earnings report, Barrick Gold CEO Mark Bristow said global supplies of copper are currently not enough to keep up with rising long-term demand, especially with an aggressive plan to build out clean energy infrastructure, which require a lot of the industrial metal.
”We don't have enough copper," the head of Barrick Gold (NYSE:GOLD) told CNBC. "We just don't have the copper to support the vision of being a greener planet into the future."
Bristow acknowledged that the price of copper has come well off highs reached earlier in the year, dropping about 30% from its 52-week peak. However, he argued that commodity markets always price in near-term factors, rather than fully computing long-term trends.
”You've seen the copper price come off because it's always short term and what we as miners have to do is look long term," he said.
To meet rising global demand, the Barrick Gold CEO said "we've got to go and look" for more copper reserves but warned that the process will unfold over a long timeline.
”It takes time to bring copper mines into production," he said.
"
Looking at Wikipedia's Barrick Gold and BHP:
BHP:
BHP don't have operations in Africa atm it looks.
Barrick Gold:
Barrick Gold produces gold and copper with 16 operating sites in 13 countries as per Wikipedia, including Tanzania and Zambia (border to the Kalahari Copper Belt which extends from Botswana to Namibia) in Africa..
Below is CBE Martin's comments in Paydirt's interview in early July re looming M&A around the area too:
It certainly looks (from macro) things are getting momentum again! Bring on the drilling results!!
CBE Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
