Teck very positive on copper fundamentals

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

Reply New Message

Prev Message Back To Forum Threaded View Next Message

youngmoney

Rank: Treasurer [?]

Points: 8367 [?]

Votes: 128 Score: 2.5 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Teck very positive on copper fundamentals

posted on Aug 05, 2020 08:46AM

Latest presentation- July 28th

https://www.teck.com/media/Jul-2020-Investor-%20Meetings.pdf

QB2 Rebalances Teck’s Portfolio Delivers on copper growth strategy

• Rebalances Teck's portfolio over time to make the contribution from copper similar to steelmaking coal

• QB3 and other copper development projects could further increase copper exposure and diversification

Supply Continues to be at Risk Copper Demand Improves

• Stronger cathode demand in China putting upward pressure on copper prices

• Demand Ex -China improving slowly

• Government closures of mines, ports and distribution keeping concentrate market tight and impacting cathode supply

• Concentrate market tightness into 2020

• Scrap shortages lowering cathode supply and increasing cathode demand

• Copper metal stocks continue to fall

• Mine growth to resume in 2021; peak in 2023 but projects deferred due low prices