Copper is the third most used metal in the world, and demand for this important commodity is rising amid tight supply.
For that reason, market watchers may be asking, “When will copper go up?” The general consensus is that higher copper prices are needed for mining companies to invest in copper production and exploration to match demand.
“We believe significant mine supply response will be required to meet this new area of demand growth and a higher copper price will be needed to incentivize the new production into the market,” said Daniel Greenspan, senior analyst and resource team director at CIBC Asset Management, in an early 2021 interview.
Chile is home to the world’s most established copper-mining industry and continues to be a hotbed of copper exploration activity.
With a natural landscape rich in mineral resources, it’s no surprise that copper mining in Chile is one of the country’s largest industries. As the top copper-producing country in the world, the South American nation’s name is synonymous with the red metal.
Chile’s copper production is mostly based in the northern region of the country, and comes primarily from iron-oxide-copper-gold (IOCG) deposits, porphyry copper deposits that are rich in molybdenum and gold and silver by-products.
What Was the Highest Price for Copper? | How it Happened investingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investingnews.com Daily Mail and Mail on Sunday newspapers.
10 Top Copper-producing Companies | Codelco is First investingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investingnews.com Daily Mail and Mail on Sunday newspapers.