Major Miners Need New Definition for Tier-One Copper Assets -- Market Talk Monday, May 17, 2021 In copper, small-scale mines may now fit the bill for so-called tier one assets, JPMorgan says. Global miners have in recent years talked of their preference for tier-one operations, defined as "large, low-cost and expandable," says JPM. But "we no longer think 'large' deserves to be part of the definition, at least when it comes to copper," the bank says. Miners including Rio Tinto have faced challenges growing their copper businesses. There's been a lack of discoveries and, where miners do have projects, they have faced hurdles on regulatory approvals, capital expenditure and technical issues. "This has allowed smaller companies to develop mid-scale portfolios (eg. Oz Minerals) that, when combined, could provide a meaningful difference to the majors."
OZL Price at posting:
$26.51 Sentiment: Hold Disclosure: Held
