Industrial metals production recovers
The demand for base metals declined due to production interruptions. Supply also declined, as did prices. Today the situation has recovered. A significant recovery in copper is evident in Peru, for example, the world's second largest copper producing country. In May, copper production there was still around 40 percent below the same month of the previous year.
Hannan Metals can score in Peru with large copper and also silver resources: https://www.commodity-tv.com/play/hannan-metals-exploration-of-a-large-area-in-peru-for-copper-and-silver/. The Company's San Martin Project contains nearly 90 mining concessions. Sedimentary copper-silver deposits are among the two most important copper sources in the world.
Although there are underground copper mines, the largest and most profitable are the open pit mines. Especially when the resources are close to the surface. The Copper Mountain Mine in British Columbia is one of these open pit mines: https://www.commodity-tv.com/play/copper-mountain-mining-company-teaser-2020/. Copper Mountain Mining has a 75 percent stake in this mine.
With current annual production of approximately 90 million pounds of copper equivalent, which is expected to increase to an estimated 120 million pounds, and the Eva copper project in Australia, Copper Mountain Mining is well on track in the copper business.
The majority of analysts currently see the copper price as well supported, as extensive stimulus measures have been taken and should ensure high demand.
Recent company information and press releases from Copper Mountain Mining (https://www.resource-capital.ch/en/companies/copper-mountain-mining-corp/) and Hannan Metals (https://www.resource-capital.ch/en/companies/hannan-metals-ltd/).
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