Congo copper mine suspended amid radiation concerns
Bloomberg News | April 19, 2024
...........Cobalt is mined as a byproduct of copper production and the COMMUS mine produced
129,000 tons of copper last year, about 4.2% of total output in the world’s second largest source of the metal. It also produced 2,200 tons of cobalt last year............ The shutdown at the project comes during a period of supply disruption in the global copper market, driven by the surprise closure of First Quantum Minerals Ltd.’s giant Cobre Panama mine. Anglo American Plc also downgraded production guidance and Codelco has seen output slump to quarter century lows............ Gecamines declined to comment...........
so the next piece of bad news...
in contrast to silver, the copper market seems to be a tad more transparent...., i.e. the physical shortage really seems to be "on the market"......................................
Stock market guru André Kostolany has always known it: "The stock market only reacts to facts ten per cent of the time. Everything else is psychology."
with the dynamics of the copper price in recent times (yesterday 9857dollar)
I wouldn't be surprised if next week the 10000 mark is reached.
would be cracked....., which I would see as a psychological signal...
or to put it cautiously .....copper will come much more into focus....and with it, supposed filet pieces like storm will increasingly come into view......and with it, hopefully just as good (or even better) drilling results as last year will be valued quite differently again.
what does this have to do with storm? ..........
now the higher the copper price ... the easier and better (for BAY and AW) the next, possibly most important financing should be...
maybe even a financing ala the,,mother of all financings,,inflection/anglo gold..............................
(in simple terms the mayor pays the entire exploration costs)....
that's why they have ...if i remember correctly 13 geologists and one for financing ..:-
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..........Experts in the mining sector say it is becoming increasingly difficult to increase the supply of copper as copper quality declines. Mining billionaire Robert Friedland told the Financial Times it took him 28 years to develop the massive Kamoa-Kakula mine in the Democratic Republic of Congo...