Copper to Stay Tight on Long Path to New Supply, Top Miner Says
- Mines can take twice as long to build: Southern Copper CFO
- Company would consider M&A opportunities, CFO Jacob says
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One of the world’s biggest copper companies has good and bad news for buyers hit with the highest prices in almost a decade.
On the bright side, prices are already well above the incentive level for new projects that would help ease the supply squeeze. Unfortunately, it can take twice as long to build mines now than in the past, meaning the market wouldn’t see that new supply for eight to ten years.