Mining executives say copper set for fresh price break-out

By David McKay

A DECLINE in the copper price since the beginning of the year was not “the stuff of nightmares”, said Jan Nelson, CEO of Johannesburg-listed Copper 360, who added that the red metal was not near plumbing previous market dips.

“We’re looking at a copper price of $8,300/t and people are panicking. It’s nowhere near the $2,000 or $3,000 a ton which we experienced through the previous down dip in the cycle,” he said