Desperately Seeking #Copper

We've known #Copper Production from existing mines has been set to fall sharply in the coming years, but it's just now we're realizing that, the "coming years" of the past, is today's present and immediate future… 😳

Miners need to spend more than

#BHP’s Bid for #AngloAmerican is Laden with Potential Pitfalls & Challenges…

Buying $AAL.L means $BHP would gain access to 3 of world’s largest #Copper mines.

Merger would improve BHP’s exposure to copper by ~40%—and more significantly—give it 10% of global copper production.

This, however, is likely to lead to significant anti-trust/competition scrutiny in Peru and Chile—not to mention South Africa. 

As #Gold rises to all-time highs above $2,400/oz., all eyes are on #China

China's protracted property crisis, volatile stock markets and a weakening yuan are all reasons driving money to gold, says Bloomberg:

Although China is the world's largest gold producer, it still needs to import a lot—and the quantities are only getting larger.

In the last two years, overseas purchases totaled over 2,800 tons — more than all the Gold ETF's around the world, or about a third of the stockpiles held by the US Federal Reserve— and the total amount could be even higher.

And the pace of shipments keeps accelerating. Over the first two months of the year, imports surged 53% higher than in 2023. 

And it's not only privates that are buying.