Copper-Market Cocktail Means Miners Have Rarely Had It So Good
- High prices and declining costs have seen mining margins flare
- Supply tight as miners are reluctant to develop new sources
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The world’s biggest copper miners are enjoying a rare bonanza, helped along by fallout from the coronavirus pandemic.
That comes as copper reaches seven-year highs, currencies in major producing nations tumble, and low oil prices keep a lid on costs. The unusual combination of falling costs and rising prices is also boosting the shares of copper miners, which show little inclination to increase supply into a tight market.