Insufficient supply of #Copper & #Metals to achieve #NetZero by 2050.

Chile & Peru account for 38% of mined copper.

US copper production has fallen by almost 50% over the past 25 years.

China occupies a central role in the entire copper value chain

Daniel Yergin comments what iDr Copper's message is for the energy transition.

"Unless solutions are found quickly, which will be challenging, insufficient supply of minerals risks short-circuiting the drive to achieve net zero by 2050."

"A host of operational challenges confront future copper supply. Copper mining is actually more concentrated than oil production. Just two countries — Chile and Peru — account for 38 per cent of mined copper. And Chile's proposed new constitution includes a provision that would make the approval process for mining more difficult.

"Obtaining permits for mines in the US is increasingly hard, which is one of the reasons US copper production has fallen by almost half over the past 25 years. Meanwhile, China occupies a central role in the entire copper value chain, with the risk of the global trade becoming enmeshed in the great power competition between Washington and Beijing."

See the whole article here:

https://on.ft.com/3uLALGX

#China Creates #IronOre Giant

#China spent ~ $180 billion on iron ore imports last year.

What will this mean for $RIO & $BHP?

China Mineral Resources Group established Tuesday with a registered capital of 20 billion yuan ($3 billion).

The company's business scope covers activities including mining, ore processing and trading agent, the data showed

The establishment of the company marks China's biggest effort yet to tackle what its officials have long argued is the excessive pricing power wielded by miners including BHP Group Ltd. and Rio Tinto Plc. China spent about $180 billion on iron ore imports last year.

The new entity will house outbound investments such as the Simandou iron ore project in Guinea, seen by China's leaders as the best route to ease the steel industry's reliance on Australian ore, said the people. It will also ideally become the sole channel for buying imported iron ore from third parties, most of which comes from either Australia or Brazil.

Bloomberg reported in February that China was planning a centralized purchasing platform for iron ore imports. The plan has been under consideration for years with the backing of senior leaders, the people said. At the very least, it will be a vehicle to consolidate several overseas iron ore investments including Simandou, as well as raw materials purchasing for a handful of China's biggest state-owned steelmakers.

See the whole article here: https://finance.yahoo.com/news/china-plans-iron-ore-giant-084448636.html

IGWT Monthly #Gold Compass for July 2022

Incrementum AG has just published their Monthly Gold Compass.

"This month you will not only find an update of the most important gold charts, but also a few slides on the Federal Funds Rate, charts from our new In Gold We Trust Report 2022, and a long term gold candlestick chart in our Special Charts segment. You can also access our new In Gold We Trust Report by clicking on the Title “In Gold We Trust Report 2022” on Page 3. We hope that this can help you to gain additional context in these difficult and uncertain times."

In Gold We Trust
https://mcusercontent.com/b268a38a165b03979d95268dd/files/88686ad9-93bd-239a-0ee5-119e314648c4/July_2022_Monthly_Gold_Compass.pdf

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MasterMetals

@MasterMetals

#Gold: Where Do We Go From Here ?

#Gold: What will H2 bring ?: 

See the whole post on the MasterCharts site.