Metal prices start high into the new year
From a fundamental point of view alone - supply is greater than demand for most metals - there could be some price setbacks, perhaps most likely at the end of 2021. But China's economy is recovering and is also relying more on quality, i.e. sustainability and renewable energies, i.e. wind and solar power and electric mobility. Added to this are the investments that China's new five-year plan will bring with it, which will result in an increased demand for raw materials.
Among the metals, copper and nickel in particular will be in demand. This is because electric vehicles need more copper and nickel in their production than conventional vehicles. Conventional lithium-ion batteries cannot do without nickel and high-quality nickel is needed. The steel industry also consumes around 70 percent of nickel production today. And with an economic recovery comes an increase in steel consumption.
Electric mobility only works with copper. Worldwide sales of electric vehicles will increase, according to Wood Mackenzie from the current five percent to around 50 percent by 2040. Copper should therefore be in great demand in the coming years. This should make the future of companies that have copper in their projects look good.
Filo Mining - https://www.youtube.com/watch?v=sQccLv55XIw&t=2s - with its Filo del Sol copper-gold-silver deposit, is located in Chile's Region III and the adjacent Argentinean province. The Indicated Mineral Resource is 425 million tonnes of rock containing 3.1 billion pounds of copper, 147 million ounces of silver and 4.4 million ounces of gold.
Hannan Metals - https://www.youtube.com/watch?v=Zll4uT2KEd8&t=2s - also has copper and silver resources. The Company will work with a partner on the large San Martin project in northeastern Peru. Hannan Metals is also pursuing other projects such as a zinc project in Ireland.
Current company information and press releases from Filo Mining (www.resource-capital.ch/en/companies/filo-mining-corp/) and Hannan Metals (www.resource-capital.ch/en/companies/hannan-metals-ltd/).
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