10 key points of the upcoming copper super-cycle as highlighted by this Mining Journal:
- Supply deficit: A major copper shortage is expected due to underinvestment, few discoveries, mine closures, and high demand for clean energy.
- Delayed impact: Economic slowdown due to high inflation and interest rates slowed demand and postponed the shortage.
- Price stability: Copper prices remained stable despite economic challenges, reflecting its future potential.
- Price surge expected: Easing inflation and interest rates in 2024 could significantly increase copper prices.
- Higher hurdle rate for new projects: Increased geopolitical risks require a higher copper price for new mine development to be profitable.
- Challenges in permitting and funding: Stringent regulations and difficulty in securing funding make it harder to bring new copper projects online.
- Focus on jurisdiction: Stable and supportive jurisdictions are attractive for copper mining companies.
- China's copper smelters facing shortages: China's copper smelters are likely to face concentrate shortages due to supply constraints.
- Policy responses: Many countries are classifying copper as a critical material and implementing policies to support its production.
- Long-term bullish outlook: A structural copper shortage, rising demand, and tight market conditions are expected to lead to a long-term price increase.
Overall, a strong bullish outlook for copper prices driven by a confluence of factors on the supply and demand sides.
In terms of Storm's development, Easier financing will be possible: With increased investor interest and a promising copper market outlook, securing funding for the project development could become easier and less expensive.
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