All signs pointing to continued copper bull run as production tipped to increase in 2021
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All signs pointing to continued copper bull run as production tipped to increase in 2021
Copper production from the world’s top 10 companies is predicted to rise by nearly 4% this year, says GlobalData. Today copper is fetching US$10,465/tonne, just shy of the US$10,724/tonne peak it hit earlier this month.
Australian copper explorers and producers are quietly confident of a bumper year as market fundamentals continue to paint a positive picture for the highly sought-after metal.
According to research by leading data and analytics company GlobalData, copper production from the top 10 companies is set to increase by up to 3.8% in 2021.
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Comet Resources enhances copper exposure by completing acquisition of Northern Territory projects
With copper prices touching records highs, the company believes it is a great time to add to its portfolio with advanced and early-stage copper projects with gold and base metals as well. Analysts believe copper prices will continue to strengthen due to increased global demand.
Comet Resources Limited (ASX:CRL) has finalised due diligence and completed the acquisition of a portfolio of highly prospective copper assets from Bath Resources Pty Ltd in Australia’s Northern Territory, with added gold-zinc-silver-lead.
Assets included in the acquisition are Oonagalabi Copper-Zinc Project, Paradise Well Copper-Gold Prospect and Silver Valley Copper-Gold-Silver-Lead Prospect.
Completion of Acquisition of Highly Prospective Copper Projects in Northern Territory
Comet Resources Ltd is pleased to advise that it has now finalised its due diligence and has completed the acquisition of a portfolio of highly prospective copper-gold-zinc-silver-lead assets in the Northern Territory of Australia from Bath Resources Pty Ltd.
Highlights:
Agreement to acquire a portfolio of copper-gold and base metals assets in Australia’s Northern Territory now completed
Assets include: Oonagalabi Copper-Zinc Project, Paradise Well Copper-Gold Prospect and the Silver Valley Copper-Gold-Silver-Lead Prospect, which combined cover approximately 840 km
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Oonagalabi best intersections from historical drilling include 36.6m at 1.0% copper and 1.7% zinc from 1.5m, 5m @ 1.26% copper and 1.22% zinc from 70m, 6m at 0.9% copper from 102m and 14m at 0.7% copper from 148m