MasterMetals News

Opec and allies agree further gradual increase in oil production

Wed, 02 Feb 2022 13:51:15 GMT

Cartel to raise output quota by 400,000 barrels a day in March, the eighth straight monthly rise

Harbour Energy’s Phil Kirk to step down

Wed, 02 Feb 2022 12:15:11 GMT

Founder of group’s predecessor Chrysaor helped turn it into biggest UK-listed independent oil and gas group

Australia backs rare earths mine to reduce China’s supply dominance

Wed, 02 Feb 2022 06:28:02 GMT

$100mn project finance for Yangibana expected to feed Europe’s automotive sector

Miners place next bets on Russia with $15bn copper plans

Wed, 02 Feb 2022 05:00:17 GMT

Two complex Siberian projects set to tap metal central to renewable energy transformation

Big Oil groups regain swagger with largest profits in years

Wed, 02 Feb 2022 05:00:17 GMT

Investors return to ExxonMobil and Chevron as they funnel proceeds to buybacks and dividends

Endeavour Mining remains one of its 'top picks' among senior producers, says broker Canaccord as it lifts target price

Tue, 01 Feb 2022 16:50:00 GMT

Fourth quarter output and all-in-sustaining-costs (AISC) of 398,000 ounces and US$900 per ounce, both beat Canaccord's previous estimates, while full-year production of 1.536 million ounces exceeded the top end of guidance (1.365 million to 1.495 million ounces) and marked the ninth consecutive year that Endeavour has met or beat guidance

Total gives green light to $10bn Uganda oil project

Tue, 01 Feb 2022 16:20:09 GMT

Megaproject will turn east African country into an oil producer for the first time

Exxon registers highest profit since 2014 after boost from oil and gas prices

Tue, 01 Feb 2022 13:31:58 GMT

US supermajor launches $10bn share buyback and pays off most of its debt from 2020 downturn

Oil and gas group Parkmead moves into onshore wind

Tue, 01 Feb 2022 12:08:59 GMT

Rare move into renewables by a small independent North Sea producer

Ariana Resources is advancing gold opportunities in Turkey

Tue, 01 Feb 2022 08:22:00 GMT

The company will move to a minority potion at Salinbas and ramp up exploration elsewhere

Waiting for Fed rate hikes, #Mining Financings @Oreninc INDEX down as short-term outlook for metals turns bleak

noreply@blogger.com — Tue, 01 Feb 2022 00:56:00 GMT

Last Week: 64.48, This week: 47.61

The Oreninc Index decreased in the trading week ending January 28th, 2022 to 47.61 from 64.48 a week ago as the short-term outlook for metals turned negative after the FOMC meeting.

On to the money: the aggregate financings announced decreased to $99 million, a 2-week low, with 4 new brokered financings and 1 new bought-deal financings announced. The average offer size decreased to $4.5 million, a 2-week low, and the number of financings decreased to 22.

See the whole report here: Oreninc

Wintershall Dea/BASF: Russian gas IPO offers little spark

Mon, 31 Jan 2022 17:57:10 GMT

Mikhail Fridman’s fund wants to block listing of German group’s private energy company

North Sea dealmaker Andrew Austin to buy stake in UK gasfields

Mon, 31 Jan 2022 10:37:12 GMT

Oil and gas entrepreneur’s Kistos vehicle agrees deal for 20% of four assets from France’s TotalEnergies

Galantas Gold advancing Omagh mine after placing sees high demand

Mon, 31 Jan 2022 08:41:00 GMT

Company has resumed blasting operations and is talking about a possible sale to a development partner

Galantas hits high grade gold at Omagh in latest round of drilling

Mon, 31 Jan 2022 08:41:00 GMT

Galantas has many years of on-ground experience at the Omagh project

Greatland Gold confirms potential for new zone of high grade mineralisation at Havieron

Mon, 31 Jan 2022 06:59:00 GMT

Mikhail Fridman’s LetterOne to block BASF over Wintershall IPO

Mon, 31 Jan 2022 04:00:45 GMT

Investment group says float of $20bn company not desirable in short-term

Ukraine plays down US invasion warning

Sat, 29 Jan 2022 16:35:32 GMT

Pentagon assessment comes as Putin suggests diplomatic talks are failing

Global warming effect of methane from US Permian draws fresh scrutiny

Fri, 28 Jan 2022 18:40:05 GMT

Rebound of oil and gas production as prices surge comes as Biden administration cracks down on greenhouse emissions

Chevron reports $5bn profit amid surging crude and natural gas prices

Fri, 28 Jan 2022 17:30:06 GMT

Results come in below Wall Street’s expectations with earnings from sale of liquefied natural gas lower than expected

Greatland Gold option process will be key value catalyst, suggests broker

Fri, 28 Jan 2022 16:28:00 GMT

This option will lift Newcrest’s total holding in Havieron from 70% to 75%

SolGold pushing ahead with pre-feasibility study for Alpala deposit at its Cascabel Project in Ecuador

Fri, 28 Jan 2022 14:45:00 GMT

Greatland Gold identifies possible new high grade zone at Havieron

Fri, 28 Jan 2022 07:53:00 GMT

The latest set of drilling results at Havieron continue to astound, the CEO said

US judge cancels auction of Gulf of Mexico offshore drilling leases

Fri, 28 Jan 2022 04:38:19 GMT

Ruling cites government’s failure to fully account for climate impact, putting Biden administration in a bind

Oil and gas groups keep drilling despite green energy push

Fri, 28 Jan 2022 04:00:10 GMT

Supermajors are continuing to explore in remote regions even though forecasts say no new finds are needed

New Russian gas projects face sanctions if Ukraine attacked

Thu, 27 Jan 2022 21:00:09 GMT

EU and UK proposals being drawn up with US support would curtail financing and technology transfer

Pure Gold Mining inks deals for brokered private placement and concurrent offering with AngloGold Ashanti

Thu, 27 Jan 2022 14:35:00 GMT

The agreement with National Bank Financial Inc, as lead underwriter on behalf of a syndicate, is for a bought deal private placement basis for gross proceeds of C$9,004,170

Pricey investments spell ‘nightmare scenario’ for oil companies

Thu, 27 Jan 2022 12:00:09 GMT

Plus, Chesapeake CEO weighs in on purchase of Chief Oil & Gas and the comeback of Texas’s upstream oil and gas

Conroy Gold gets regulatory green light for transfer of licences to new joint venture

Thu, 27 Jan 2022 08:53:00 GMT

This is "a major step forward in implementing the joint venture", said Prof Richard Conroy

Anglo Asian ups stake in Libero Copper to 20%

Thu, 27 Jan 2022 08:31:00 GMT

"Anglo Asian and Libero are keen to work together on Libero's future development programmes and to share expertise"

Australia’s Woodside pulls out of Myanmar gas projects

Thu, 27 Jan 2022 08:02:37 GMT

Energy company relinquishes exploration licences over human rights abuses

Nestlé to pay cocoa farmers to stop using child labour

Thu, 27 Jan 2022 06:15:57 GMT

Maker of Kit Kat to tackle root cause through direct payments to smallholders

Has the appetite for plant-based meat already peaked?

Thu, 27 Jan 2022 05:00:58 GMT

Despite sales growth falling in the US and UK, an extra $3bn was invested into the sector in 2021

Fresnillo shares drop 14 per cent after guidance cut

Wed, 26 Jan 2022 18:21:09 GMT

Covid and labour laws hit staffing levels at FTSE 100 precious metals producer’s Mexican operations

LNG tanker near Russia’s Baltic territory draws scrutiny amid Ukraine crisis

Wed, 26 Jan 2022 16:27:32 GMT

Vessel designed to supply gas to Kaliningrad could be a contingency measure in case flows are interrupted

Glencore backed Viterra to acquire US grain trader Gavilon for $1.1bn

Wed, 26 Jan 2022 11:47:20 GMT

Deal comes as metals trader and miner considers options for its near 50 per cent stake

Meanwhile, in Ukraine

Wed, 26 Jan 2022 06:30:40 GMT

Time to think about worst-case scenarios

Galantas Gold inks US$1mln loan deal with Ocean Partners UK

Tue, 25 Jan 2022 08:06:00 GMT

As part of the agreement, Ocean will receive 250,000 Galantas warrants, exercisable into shares in the gold miner

Scotgold’s Cononish gold mine ticks all the right boxes

Tue, 25 Jan 2022 04:52:00 GMT

Scotgold is set to become the UK's leading producer of gold

Endeavour Mining, a leading West-Africa-focused gold miner, sets sights on free cash flow and organic growth for 2021

Mon, 24 Jan 2022 08:02:00 GMT

Endeavour’s strategy is focused on increasing the quality of its portfolio to establish a leading West African gold producer with long life mines and low all-in sustaining cost (AISC)

Endeavour Mining beats gold production guidance for 2021

Mon, 24 Jan 2022 08:02:00 GMT

Endeavour, which owns several high-quality gold mines in West Africa, declared a dividend payment of US$70mln for the second half of 2021

Pan African Resources sees strong cashflows as gold price surges

Thu, 20 Jan 2022 11:06:00 GMT

Gold production this year is forecast to reach 190,000oz

Pan African Resources on record gold production, managing Covid and maintain 'great' safety

Thu, 20 Jan 2022 11:06:00 GMT

Caledonia Mining Corporation brings COO onto the board

Thu, 20 Jan 2022 09:57:00 GMT

He has been in the role for nine years and has been hailed for his work on the central shaft project at Blanket Mine

Marvel Gold hikes interest in +1 million ounce Tabakorole gold resource to 70%

Wed, 19 Jan 2022 23:29:00 GMT

Its ownership interest can increase to 75% by spending US$5 million on exploration and project development through to December 17, 2023, and ultimately increasing to 80% upon completion of a DFS.

Pan African Resources gold production hits new record

Wed, 19 Jan 2022 07:53:00 GMT

Output rose by 9.9% to 108,000oz in the six months to end December 2021

UK inflation takes centre stage with Entain and JD Wetherspoon also on the bill

Wed, 19 Jan 2022 06:00:00 GMT

Consumer prices will dominate the headlines but there are also some significant company updates

Perseus Mining's high-grade Yaouré Gold Mine results point to potential added resources

Tue, 18 Jan 2022 22:36:00 GMT

Perseus will use the results to upgrade the CMA Underground inferred mineral resource estimate to indicated status, enabling a PFS for an underground mining operation to be completed by late June 2022, including an initial ore reserve estimate.

Pure Gold Mining says high-grade drill results bode well for upcoming production

Tue, 18 Jan 2022 13:40:00 GMT

The surface and underground drilling was completed in the fourth quarter of 2021 and highlights included an intercept of 4 metres (m) at 21.1 grams per ton (g/t) gold in one hole starting at just 5m depth

Caledonia hits new gold production records at Blanket

Tue, 18 Jan 2022 08:26:00 GMT

Caledonia has built up a long track record of successful gold production at Blanket

Perseus Mining achieves near-mine exploration success in Ghana with potential to extend Edikan life

Mon, 17 Jan 2022 22:41:00 GMT

Resource definition drilling is ongoing and Perseus expects to complete a maiden mineral resource estimate for Nkosuo early in the June 2022 quarter.

Further exploration success for Oriole Resources and IAMGOLD at Senala

Mon, 17 Jan 2022 08:01:00 GMT

Oriole Resources has an extensive gold exploration programme in West Africa

Endeavour Mining adds three million ounces of gold to resource inventory in 2021

Mon, 17 Jan 2022 07:50:00 GMT

Endeavour has a sizeable portfolio of producing and development assets in West Africa

Packed diary ahead, as Entain, Primark, BHP joined by Netflix, Goldman as US earnings season warms up

Mon, 17 Jan 2022 05:30:00 GMT

Others updating include JD Wetherspoon, Taylor Wimpey, Rio Tinto, AJ Bell and CMC Markets

Great Western Mining builds head of steam in Nevada

Thu, 13 Jan 2022 11:52:00 GMT

GWR has an exploration target of 500,000 - 1.5mln gold equivalent ounces from multiple prospects

Anglo Asian Mining enters 2022 in a 'strong financial position'

Thu, 13 Jan 2022 08:35:00 GMT

The Azerbaijan-focused miner ended 2021 with cash of US$37.5 million, up from US$30.9 million at the end of September

Anglo Asian Mining sees 'eventful' year, meets production and financial guidance for 2021

Thu, 13 Jan 2022 07:30:00 GMT

ECR Minerals in middle of hot spot for Australian gold exploration

Wed, 12 Jan 2022 03:35:00 GMT

Company's prospects in Victoria are Bailieston, Avoca, Timor, Creswick and Moormbool

Gold still the best option vs Bitcoin, says gold mining boss

Tue, 11 Jan 2022 16:17:00 GMT

Bristow believes that the price of gold will most likely average between US$1,750 and slightly above US$1,800 per ounce

Thor Explorations present operational update and gold production guidance for 2022

Mon, 10 Jan 2022 11:56:00 GMT

Landore Resources targeting big gold resource at BAM

Mon, 10 Jan 2022 08:22:00 GMT

Scoping study indicates value at US$175.3mln at a price of US$1,430 per oz

Landore extends BAM gold deposit out to the west

Mon, 10 Jan 2022 08:22:00 GMT

Landore has already established a sizeable resource at BAM

ECR submits renewal application for key Australian tenement

Mon, 10 Jan 2022 07:52:00 GMT

ECR has an extensive gold exploration portfolio in Australia

Royalty Round up, December 2021: Juniors had a long December but a fantastic 2021

Thu, 06 Jan 2022 11:56:00 GMT

With rising inflation likely to be a key theme for 2022, both precious metals focused and diversified mining royalty companies are likely to benefit from higher metal prices during the year.

Pure Gold makes change in leadership naming Troy Fierro as their new President and CEO

Wed, 05 Jan 2022 19:56:00 GMT

Oriole Resources says sampling results confirm continuity of gold system at Bibemi project

Wed, 05 Jan 2022 07:58:00 GMT

“The gold system at Bibemi is now confirmed over a strike length of almost 12km at surface," said Claire Bay

Pure Gold Mining reports changes to leadership team and provides 4Q update as it continues to unlock potential of Red Lake mine

Tue, 04 Jan 2022 13:08:00 GMT

Commercial production was declared at the new Canadian mine on August 1 this year and Maryse Bélanger was named mine general manager in November. In six years, the mine has been transformed from a pre-resource stage asset through construction toward a commercial operation

Pure Gold Mining is Canada's newest gold producer

Tue, 04 Jan 2022 13:08:00 GMT

Red Lake in Ontario has produced nearly 30 million ounces of gold over the past 85 years

Travel stocks soar thanks to fresh data Omicron virus variant might be less severe

Tue, 04 Jan 2022 10:14:00 GMT

Caledonia sets latest quarterly dividend at US$0.14 per share

Tue, 04 Jan 2022 08:01:00 GMT

Caledonia has been producing gold in Zimbabwe for many years

Conroy signs on the dotted line, following shareholder approval for deal on Longford Down

Tue, 04 Jan 2022 07:54:00 GMT

The arrival of Demir significantly boosts the funding prospects of the project

Walkabout Resources takes full ownership of JDH Exploration – increases footprint in Scotland

Tue, 04 Jan 2022 04:33:00 GMT

Having started diamond drilling at the Blackcraig project in October, WKT has completed six holes with samples for the first five holes sent to the laboratory in the Republic of Ireland for assaying.

Dalradian protestors hog the media spotlight, amidst mining industry introspection on ESG

Wed, 29 Dec 2021 13:00:00 GMT

The mining industry now gives awards for ESG, so any project that generates protests is likely to be shunned

Seven tips on how to time your small cap mining investment

Tue, 28 Dec 2021 13:00:00 GMT

Are fundamentals more important than timing or sentiment? Don't bet on it

ECR Minerals reports more gold indications at Bailieston

Thu, 23 Dec 2021 15:06:00 GMT

Six of 160 samples returned gold values above 0.1 g/t gold

Greatland Gold 'delighted' with initial exploration at Juri

Thu, 23 Dec 2021 07:59:00 GMT

Drilling comprised nine holes for 4,958 m testing six targets

Anglo Asian Mining to take stake in Canadian-listed explorer as part of a C$6.3mln strategic investment

Thu, 23 Dec 2021 07:54:00 GMT

The company will end up owning 12.6mln shares in Libero Copper & Gold Corporation

ECR Minerals pleased with assays from Bailieston follow-ups

Wed, 22 Dec 2021 16:00:00 GMT

"Our understanding of the Maori Anticline, along with the extent and types of mineralisation, has grown exponentially"

Capital wins surface drilling contract at Tanzania's Geita gold mine

Wed, 22 Dec 2021 07:28:00 GMT

CMS has existing contracts at Geita for surface drilling and underground grade control and exploration

SensOre releases technology and exploration update ahead of the new year

Wed, 22 Dec 2021 00:07:00 GMT

Currently, the minerals targeting company is looking to attract direct investment for its portfolio of lithium and nickel targets.

Greatland Gold says Newcrest to exercise additional option over Havieron

Tue, 21 Dec 2021 12:34:00 GMT

Aussie giant has given Greatland notice to exercise a 5% option

Caledonia Mining chief executive to stand down next year

Tue, 21 Dec 2021 09:49:00 GMT

The company's current chief financial officer, Mark Learmonth, to succeed him as CEO

AEX Gold “very excited” as 2021 drilling saw higher success rate than previous campaigns

Tue, 21 Dec 2021 08:39:00 GMT

Positive drill results are expected to see AEX open up a “rich pool of funding options” for the project.

Oriole Resources wrap up 2021 with positive results from phase 2 drilling at Bibemi in Cameroon

Mon, 20 Dec 2021 15:40:00 GMT

Christmas week but can anyone enjoy it? UK GDP, Gore Street and of course Omicron to feature

Fri, 17 Dec 2021 15:35:00 GMT

It's going to be a quiet week so plenty of time for celebrating ...ah

Pure Gold remains focussed on unlocking Pure Gold Mine value as interest in Red Lake soars

Wed, 15 Dec 2021 23:49:00 GMT

$EDV @EndeavourMining: Q3 Results Digest

noreply@blogger.com — Thu, 11 Nov 2021 14:08:00 GMT

Consensus	No. of	CFPS pre-WC	Adj. EPS	Production	AISC
Consensus	Estimates	($/sh)	($/sh)	(koz)	($/oz)
Bloomberg	11	1.06	0.41	344	n.a.
Company Surveyed	17	1.05	0.42	343	969
Actual		1.30	0.61	382	904
Beat / Miss		Strong Beat	Strong Beat	Strong Beat	Strong Beat

· Q3 Broker consensus vs. actuals

Endeavour Mining just published Q3-2021 results. The press release is quite lengthy, below is a quick digest.

› Positioned to beat full-year production guidance of 1,365-1,495koz within the guided AISC range of $850-900/oz; which would mark the ninth consecutive year of meeting guidance.

· Healthy balance sheet with Net Debt reduced to $70m despite having returned $105m to shareholders during Q3-2021; Net Debt to EBITDA leverage ratio stands as near zero

· Continued strong focus on shareholder returns with $224m paid year to date

› As a reminder, dividend strategy is to distribute at least $500m over the next three years, with supplemental returns by way of additional dividends and buybacks if the gold price prevails above US$1,500/oz and leverage remains below 0.5x Net Debt to adjusted EBITDA

› Paid H1-2021 interim dividend of $70m during the quarter, which is over half the FY-2021 minimum dividend, demonstrating commitment to paying supplemental returns over the fixed minimum

› Completed $35m of buybacks during the quarter; a total of $94m of buybacks have now been completed since the start of the program in April

Click the link to view short video with our CEO, Sébastien de Montessus, presenting a summary of our Q3 Results:
https://youtu.be/-e3ubUmUCKg

· Organic growth remains on track

› Construction of Sabodala-Massawa Phase 1 on track for completion by year-end

› DFS for Sabodala-Massawa Phase 2 expansion, Fetekro and Kalana expected in Q1-2021 to allow for new resources at Sabodala-Massawa and Fetekro to be incorporated into studies

› Group on track to discover more than 2.5Moz of Indicated resources in 2021 with significant recent discoveries at Ity, Houndé, Sabodala-Massawa and Fetekro

· LSE listing, indexation and liquidity have performed well

› Subsequent to Endeavour's premium listing on the London Stock Exchange ("LSE"), Endeavour was included in the FTSE All Share, FTSE 250, FTSE 350 and FTSE 350 Lower Yield indexes as part of the FTSE Q3-2021 rebalancing, which became effective on 20 September 2021

› Strong liquidity in the UK (LSE, CBOE, CXE, BXE, OTC) since listing, equivalent to 25% of total trading

› Upcoming FTSE 100 inclusion potential as our current market capitalisation positions us within the top 100 companies (FTSE market cap review date is 30^th November)

· Upcoming catalysts:

TIMING	CATALYST
Q4-2021	Exploration	Resource updates at Sabodala-Massawa, Houndé, Ity and Fetekro
Q4-2021	Sabodala-Massawa	Completion of Phase 1 plant upgrades
Q1-2022	Sabodala-Massawa	Completion of Definitive Feasibility Study for Phase 2
Q1-2022	Fetekro	Completion of Definitive Feasibility Study
Q1-2022	Shareholder Returns	H2-2021 dividend
Q1-2022	Kalana	Completion of Definitive Feasibility Study

www.endeavourmining.com/

#Uranium getting some love from #HedgeFunds in bet on #GreenEnergy

noreply@blogger.com — Tue, 12 Oct 2021 11:06:00 GMT

Hedge funds snap up uranium in bet on green energy shift | Financial Times

Global energy crunch has highlighted role of uranium, in a transition away from fossil fuels

After years of stagnant prices, 37% rally in prices for nuclear fuel uranium has helped attract investors back to the sector.

Uranium mining equities have rallied 58% this year

Funds such as Ben Melkman's New York-based Light Sky Macro, Anchorage Capital and Tribeca Investment Partners have been positive on the outlook for the raw material, as a global energy crunch highlights the role of nuclear power in a transition away from fossil fuels.

- price of raw uranium, known as yellowcake, rose to $50 a pound last month, its highest level since 2012 when buying by investors drove the price from $20/lb. to a record high of $136 in June 2007.

- Ben Cleary, of Tribeca Investment Partners in Singapore, whose fund is up 345 per cent net of fees this year. "Clearly there's speculative money coming back into the sector, there were massive price moves in September."

- Sprott's Physical Uranium Trust has catalyzed the price rise with significant buying of uranium, but investors say the broader energy transition is highlighting the key role of nuclear — a low-carbon source of baseload power.

…

energy crisis in Europe and China, and has "placed uranium back in the spotlight", said Rob Crayfourd at CQS New City Investment Managers.

"The political fallout of this energy crisis will be a greater willingness in the west to extend the life of the existing reactor fleet," he said. "It has focused governments on the benefits of secure supply of energy from the nuclear fleet. We expect that to lend support [to prices]."

…

"Light Sky Macro sees an immediate and sizeable opportunity in the uranium sector, making it one of our highest conviction views for 2021," he wrote in a note to clients, seen by the Financial Times, earlier this year.

"The growing focus on 'green energy' at a political level and the growing demand for [sustainable] assets in the investment community should turn uranium into one of the most asymmetric trades for the coming years," he wrote, meaning that the possibility of potential gains far outweighs the risk of losses.

Also profiting is Sean Benson, founder of London-based Tees River. His uranium fund, which buys equity stakes in uranium miners, is up 115 per cent this year.

Read the whole piece on the FT here: https://www.ft.com/content/e4a7c920-a5da-4c00-8994-d2bef944e81c?

bit.ly/MasterMetals

Visualizing Copper’s Role in a Low-Carbon Economy

noreply@blogger.com — Fri, 08 Oct 2021 11:35:00 GMT

Visualizing Copper's Role in a Low-Carbon Economy

#Copper is considered the most essential metal in the transition to #RenewableEnergy and #electrification.

Goldman Sachs predicts copper demand for low-carbon technologies will grow to 5.4 million tonnes by 2030, up from around 1 million tonnes in 2021.

Meanwhile, the number of operating mines and proposed projects are not meeting projected demand and the supply scenario looks quite constrained over the medium term.

From VisualCapitalist.com

Visualizing Copper's Role in a Low-Carbon Economy

October 5, 2021

The following content is sponsored by Teck

Climate change is top of mind for much of the world's population.

The transition to renewable energy and electrification will require tons of metals, and copper is considered the most essential.

The above infographic from Teck outlines copper's role in low-carbon technologies, highlighting why the red metal is essential for a low-carbon future.

Why Copper?

Copper has been an essential material to man since prehistoric times. In fact, it is the oldest metal known, dating back more than 10,000 years and one of the most used because of its versatility.

The metal has four key properties that make it ideal for energy storage, propulsion for electrical vehicles (EVs), and renewable energy:

Conductivity: Copper has the highest electrical conductivity rating of all non-precious metals.
Ductility: Copper can easily be shaped into pipes, wires or sheets.
Efficiency: Copper's thermal efficiency is about 60% greater than aluminum, so it can remove heat far more rapidly.
Recyclability: Copper is 100% recyclable and can be used repeatedly without any loss of performance.

In addition to its unique properties, copper remains relatively affordable, making it a key part of the energy transition.

A Cornerstone of the EV Revolution

EVs can use up to four times as much copper when compared to an internal combustion engine (ICE) passenger car. The amount goes up as the size of the vehicle increases: a fully electric bus uses between 11 and 18 times more copper than an ICE passenger vehicle.

Copper is used in every major EV component, from the motor to the inverter and the electrical wiring. In fact, a fully electric vehicle can use up to a mile of copper wiring.

Currently, there are few alternatives to copper. Aluminum is the closest one, but despite it being lighter and almost three times cheaper, aluminum cables require double the size of any copper equivalent to conduct the same amount of electricity.

The Most Essential Metal for Renewable Energy

Copper is an essential element for almost all electricity-related technologies. According to the Copper Alliance, renewable energy systems can require up to 12x more copper compared to traditional energy systems.

Technology	2020 Installed Capacity (megawatts)	Copper Content (2020, tonnes)	2050p Installed Capacity (megawatts)	Copper Content (2050p, tonnes)
Solar PV	126,735 MW	633,675	372,000 MW	1,860,000
Onshore Wind	105,015 MW	451,565	202,000 MW	868,600
Offshore Wind	6,013 MW	57,725	45,000 MW	432,000

By 2050, annual copper demand from wind and solar technologies could exceed 3 million tonnes or around 15% of 2020 global copper production.

The Race for Copper

Goldman Sachs predicts copper demand for low-carbon technologies will grow to 5.4 million tonnes by 2030, up from around 1 million tonnes in 2021.

Meanwhile, the number of operating mines and proposed projects are not meeting projected demand and the supply scenario looks quite constrained over the medium term.

"We have deficits over the course of 2021 and next year. Inventories will be run down to very low levels, we believe, by the middle of 2022."

—Nick Snowdon, Commodities Strategist, Goldman Sachs

As the transition to renewable energy and electrification speeds up, so will the pressure for new copper projects in the pipeline.

Teck is one of Canada's leading mining companies committed to responsibly producing copper needed for a low-carbon future.

https://www.visualcapitalist.com/visualizing-coppers-role-in-a-low-carbon-economy/

Freeport $FCX took it on the chin today as #Copper got hit on the #Evergrande contagion

noreply@blogger.com — Mon, 20 Sep 2021 23:01:00 GMT

Its #Gold exposure couldn't save it from #China fears.

See more Mining Stocks Charts here.
____________________________________________________

MasterMetals

@MasterMetals