The copper price rose above the US$ 10,000 mark. On the one hand, recycling restrictions in Malaysia were probably the cause - as traders had to resort to refined metal. And for another, there is a global energy crisis at the moment and the red metal is in demand like seldom before. LME copper stocks are also falling. It remains to be seen whether the immediate strong demand will continue to strengthen the copper price.
One sector that consumes an enormous amount of copper is wind energy. Approximately 8,000 kilograms of copper are consumed per megawatt. In the case of offshore wind energy, it is the submarine cables that consume so much copper. According to estimates, solar energy also requires around 8,000 kilograms of copper per megawatt, as well as silicon and other metals.
So, commodity prices continue to rise, including not only copper, but also aluminium or tin. Thus, the LME industrial metals index, which tracks the six main industrial metals, has also risen to an all-time high of 4,623 points. Many experts agree that the macroeconomic factors for copper are very solid. Copper is, after all, one of the most important metals - even if you factor in the current uncertainties in the Chinese property market. After all, copper plays an important role in terms of "green" energies. Clean energies and a clean transport system are a crucial and much copper-consuming aspect of reducing CO2 emissions.
This means that the prospects for companies that have copper in their projects are very good.
This includes Aurania Resources - https://www.youtube.com/watch?v=qF5UyeDX-Rs -, for example. Copper and precious metals in Peru and Ecuador are on the company's agenda. This includes The Lost Cities-Cutucu project in the Andes Mountains in Ecuador.
Torq Resources - https://www.youtube.com/watch?v=kij1qkLrAOo - efforts are focused on gold and copper in Chile. Drilling is underway at the Margarita project (copper, gold), for example.
Current corporate information and press releases from Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -) and Torq Resources (- https://www.resource-capital.ch/en/companies/torq-resources-inc/ -).
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