ALR
Click for more information
0.00% 0.4¢ altair minerals limited

Ann: Cohiba secures 80% ownership of Wee MacGregor tenements, page-28

  1. Shikari
    5,643 Posts.
    lightbulb Created with Sketch. 369
    clock Created with Sketch.
    08/05/21
    17:55
    Post #: 53039681

    Make that 500mill AUD of contained copper. $20,000 AUD a tonne might not be that far away!

    (Bloomberg) -- Copper will need to rise 50% further from its current near record high to encourage enough new mined supply to meet rampant demand, according to Ivan Glasenberg, the billionaire chief executive officer of Glencore Plc.

    Copper topped $10,000 a metric ton last week for the first time in a decade and has been among the best performers in a scorching surge in metals prices. The rally is being fueled by stimulus measures, the global economic recovery from Covid-19 and concerns about long term supply.

    That means miners will have to go to more difficult jurisdictions such as Russia and parts of the copper belt in central Africa to find new mines, and that will need higher prices to offset the risk, Glasenberg said at the FT’s Global Boardroom summit on Thursday.

    “We don’t have many shovel-ready projects,” Glasenberg said. “You will need higher prices. You will need the so-called $15,000 copper price to encourage a lot of this more difficult investment.”

    The largest miners have been universally bullish on copper, holding a long-term view that usage in cities and electric vehicles will expand demand, while new supplies of the metal are constrained. Yet, there are a few major mines in development, and none on the scale required to meet forecasts for future demand.


    https://www.bnnbloomberg.ca/glencore-ceo-says-15-000-copper-needed-to-drive-new-supply-1.1600321
    CHK Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 7  Upvote
    lightbulb Created with Sketch.  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply
 

Featured News

TLX Telix kicks off $300M NASDAQ IPO offer, backed by Morgan Stanley
right-arrow Created with Sketch.
JBY James Bay Minerals jumps 12% as it kicks off exploration run at Joule, Canada
right-arrow Created with Sketch.
FHE Frontier boosts project economic for Waroona with increased battery time and revenue
right-arrow Created with Sketch.
LU7 Lithium Universe inks final layout for Becancour lithium plant as DFS rolls on
right-arrow Created with Sketch.
LGP Little Green Pharma's cannabis sales leap 30%
right-arrow Created with Sketch.
NEWS Making the best of an inflationary environment
right-arrow Created with Sketch.

Top Stories

watchlist Created with Sketch. Add ALR (ASX) to my watchlist
(20min delay)
Last
0.4¢ 		Change
0.000(0.00%) 		Mkt cap ! $17.18M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
4 21111081 0.4¢
 

Sellers (Offers)

Price($) Vol. No.
0.5¢ 11714029 11
View Market Depth
Last trade - 16.12pm 06/06/2024 (20 minute delay) ?
Last
0.4¢ 		  Change
0.000 ( 0.00 %)
Open High Low Volume
0.4¢ 0.4¢ 0.4¢ 500000
Last updated 10.00am 06/06/2024 ?
ALR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.