Industrial metals on the rise
While the prices for industrial metals in March were lower than they have been for a long time, a turning point has now been reached. The price of copper has gone up strongly, as has the price of zinc. This costs so much than in June 2019.
This is certainly due to the economic news from China. Because industrial production is on the rise there.
China's copper imports are reaching record highs again, while stocks are shrinking. This is a good environment for companies that produce copper, such as Copper Mountain Mining: https://www.commodity-tv.com/play/copper-mountain-mining-company-teaser-2020/. Despite the pandemic, the company ended the last quarter with strong results (23.9 million pounds of copper equivalent in the second quarter of 2020). This is due to Copper Mountain Mine in British Columbia, in which Copper Mountain Mining holds a 75 percent stake.
After copper, aluminum and iron, zinc is the metal that is processed most frequently, mainly as corrosion protection for iron, but also for dry batteries or in the construction industry. A new sector that could provide for increasing zinc consumption is its use as fertilizer. In the automotive industry, the consumption of zinc is increasing because of the growing demand for rust protection. About half of the zinc mined worldwide is consumed by China. China, Canada, Peru, Australia and the USA are among the major zinc producing countries.
The two main zinc mining camps in Canada are under the control of Osisko Metals. The Pine Point Mining Camp is located in the Northwest Territories and will be capable of producing high grade zinc and lead concentrates. It will be the ninth largest property in the world. Osisko Metals' second project is the Bathurst Mining Camp in northern New Brunswick.
Recent corporate news and press releases from Copper Mountain Mining (https://www.resource-capital.ch/en/companies/copper-mountain-mining-corp/) and Osisko Metals (https://www.resource-capital.ch/en/companies/osisko-metals-inc/).
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