Everybody at the source level seems to be strategizing for the future copper deficit. I wish the market would take notice.

China's State Reserve Bureau (SRB) has been buying an estimated 500,000 tons of copper this year, and is expected to buy through 2015, with plans to stockpile 2 million tons. It seems so obvious that they think the price of copper is going up significantly in the near future, and the supply will be lower.

BHP, who is something like 400 metres away from the Van Dyke property, is announcing a shift in their business strategy from iron ore and coal to copper and oil. They think that the Chinese focus on consumer-driven growth will increase demand for products with copper parts.

BHP is our primary potential buyer for Van Dyke because it would just slip right into their projects that are already in the neighbourhood.

They anticipate demand will outstrip supply in copper from about 2018 onwards at least for a decade.