World Could Be At The “Foothills Of The Next Copper Cycle” 


The world is sliding into a copper deficit over the next couple of years as one of the world’s largest copper mines was forced to shutter operations while demand for the refined metal remains elevated due to renewable energy infrastructure and electric vehicles demand. 

Warnings of a copper squeeze come as the Panamanian government recently closed First Quantum Minerals Ltd.’s $10 billion Cobre Panama copper mine, which produces 400,000 tons of copper annually and is considered one of the largest copper mines in the world. This decision emerged after protests and political disputes, culminating in the nation’s Supreme Court canceling the mine’s operating license. 

The supply forecast faced further complications with unexpected news from Anglo American Plc last Friday. The miner downgraded copper production forecasts for its operations in South America for the next two years.