China's stimulus measures do industrial metals good
The price of the economic metal copper is rising because, firstly, it is in demand and, secondly, it is scarce. Stocks have been dwindling for weeks. In October, for example, copper inventories were reduced by 34,000 tonnes only in the Asian LME warehouses. There are copper deposits on all continents, but the geographical focus is on South America. According to the International Copper Study Group, about 20 million tonnes of copper were mined in 2017, of which about eight million tonnes came from South America.
Asia follows in second place, followed by North America. Here, in British Columbia is the flagship copper mine Copper Mountain of the company Copper Mountain Mining - https://www.commodity-tv.net/c/search_adv/?v=298604. In the third quarter of 2018, this mine produced 22 million pounds of copper equivalent (18.3 million pounds of copper, 7,500 ounces of gold and 64,900 ounces of silver). It is 75 percent owned by Copper Mountain Mining. In addition, there is the already approved Eva Copper project in Australia, an almost 400,000 hectare property.
The raw material zinc - used in particular as corrosion protection for steel and iron - has also recovered in price in recent weeks. On the one hand, this is certainly due to the supply deficit forecast by the International Lead and Zinc Study Group. For 2018 it expects a gap of 322,000 tonnes of refined zinc. On the other hand, stocks are dwindling. The zinc price should therefore continue to rise.
Zinc One Resources - https://www.commodity-tv.net/c/search_adv/?v=298394 - is counting on zinc. The Company's Bongará and Charlotte-Bongará projects, located in Peru, both have high grade zinc mineralization at or near surface. Zinc One Resources aims to start production soon on both projects. Historical resource estimates look very promising.
Current company information and press releases from Copper Mountain Mining (www.resource-capital.ch/en/companies/copper-mountain-mining-corp.html).
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