Copper capacities could decrease

Copper is perhaps the most important raw material for renewable energies. Much of the copper comes from Chile, which is also home to the world's largest copper mine. Now, the Chilean Ministry of Finance has introduced a new law to tax copper production. This would impose levies of eight to 26 percent on larger producers, depending on their operating margins. For copper producers in Chile, this is not at all a welcome development, as their competitiveness would presumably be impaired. Industry experts fear that this will reduce investment in the copper sector. Production volumes would then probably decline.

Then there is the discussion about bans on Russian metals. The London Futures Exchange (LME) is considering a ban on Russian industrial metals, and copper would also be affected. This would reduce supply and drive-up prices. Looking at the important consumer country China - industries for semiconductors and electric vehicles need a lot of copper - copper imports seem to have developed robustly. Last year, China consumed about eleven million tons of copper. The upward trend in China's copper demand seems to be intact again, after going up and down through lockdowns. In any case, copper is one of the metals of the future and should not suffer from a lack of demand in the coming years. Copper companies like Copper Mountain Mining or Hannan Metals should therefore focus on the right metal.

Copper Mountain Mining - https://www.youtube.com/watch?v=PFbOw_s00ao - is a copper producer, owns 75 percent of the Copper Mountain Mine in British Columbia.

Hannan Metals - https://www.youtube.com/watch?v=ii3dbQtB6VU - has large and prospective silver and copper-gold properties in Peru.

Current corporate information and press releases from Copper Mountain Mining (- https://www.resource-capital.ch/en/companies/copper-mountain-mining-corp/ -) and Hannan Metals (- https://www.resource-capital.ch/en/companies/hannan-metals-ltd/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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