G20 summit positive for copper price
The trade disputes between China and the USA were settled during the G20 summit: The calls are resumed. US President Donald Trump promised to refrain from further punitive tariffs. And he lifted the blockade against Huawei, which might have unsettled the owners of Huawei smartphones.
This is good news for the global financial markets, as the trade dispute that has been dragging on for about a year has added to the situation. This could lead to a recovery of the industrial metals and could especially benefit the copper price. In addition, there is the agreement between the EU and Latin America. The EU and the Mercosur countries (Association of Common Market of South America) have reached an agreement that will create the largest free trade area in the world.
This affects more than 750 million people. What has been envisaged since about 1999 has now become reality. According to EU Commission President Jean-Claude Juncker, this is a "historic moment". In the context of trade disputes, a signal was set for regulated trading. This should also have a positive effect on the copper price and help companies with copper in projects such as Copper Mountain Mining or Aurania Resources.
Copper Mountain Mining - http://www.commodity-tv.net/c/search_adv/?v=299154 - has a 75 percent stake in the Copper Mountain Mine in British Columbia. With an estimated mine life of 26 years, around 116 million pounds of copper are produced annually.
Aurania Resources - http://www.commodity-tv.net/c/search_adv/?v=299154 - owns copper as well as gold and silver on its Lost Cities Cutucu project in Ecuador. The project is located in the prospective Cordilla del Condor Mineral Belt, which has helped several companies to find gold and copper.
Current company information and press releases from Copper Mountain Mining (https://www.resource-capital.ch/en/companies/copper-mountain-mining-corp/) and Aurania Resources (https://www.resource-capital.ch/en/companies/aurania-resources-ltd/).
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