RSS SubscribeBlackRock says $12,000 copper is needed to incentivize new mines
From Bloomberg
Copper needs to reach $12,000 a ton — a 20% jump from this week’s high — to incentivize large-scale investments in new mines, said Olivia Markham, who co-manages the BlackRock World Mining Fund.
The metal’s price hit a two-year high near $10,000, but Markham said further gains are necessary to encourage miners to sign off on projects required to avoid major deficits during the energy transition.
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