Glencore on copper

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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%)

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youngmoney

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Glencore on copper

posted on Aug 06, 2020 10:22PM

The Swiss giant mined 588,100 tonnes of copper in the first half of the year, 11% less than during the same period of 2019.

The company said global mine supply would likely keep hurting because of covid-19 and new projects will experience delays. Aging equipment and declining ore grades are also likely to crimp global supply, Glencore said.

A rebound in demand, led by Chinese factories, would likely continue, “supported by significant economic stimulus measures being undertaken globally,” it said.