Sep 06 2009
Copper – A Pending Supply Problem?
A brief article today titled ‘Next bonanza eludes copper miners and strains supply’ reports research by the Copper Study Group, Brook Hunt, says the annual supply of copper may peak at around 20 million tonnes in 4 years and decline as demand rises, and that there is mounting evidence to suggest copper supply may be at greater risk unless copper prices extend their rally to record highs and beyond – thereby (I presume, as the article doesn’t say this) resulting in more copper exploration and mine development than currently is being undertaken. The article does say that in 2008 year there was zero growth in world concentrates output, the lifeblood of the smelting and refining industry, and that London based GFMS sees a contraction of 1.6% or more this year – the first annual decline since 2002.
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