Investors love copper but not the price of building a new mine
Aktogay project. Image: Kaz Minerals
By Thomas Biesheuvel
As copper bulls pushed prices to the highest in almost a decade, the end of a six-month corporate spat showed that some investors were still reluctant to back a long-term bet on the metal.
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The chairman of KAZ Minerals Plc finally completed a six-month battle to take the company private on Monday, drawing to a close a 15-year stint as one of the biggest London-listed copper producers. While the world’s top miners are universally bullish on copper as the electric-vehicle revolution promises to expand demand, the investment horizons of shareholders don’t always stretch to developing a new mine.