⚒️ Southern Hemisphere Mining Limited notes the recent comments from BHP’s Vice President of Market Analysis and Economics, Huw McKay, with Livewire Markets reporting McKay is forecasting “pronounced” (supply) deficits in the Copper industry’s medium-term future.
From Livewire Markets:
McKay’s call on copper for the long-term remains super bullish, which is just as well as his bosses set out to spend as much $US20 billion expanding copper production in South Australia and Chile in coming years.
In short, McKay is forecasting “pronounced” (supply) deficits in the copper industry’s medium-term future. He did not say so, but that means a take-off in copper prices can’t be that far off, remembering that it is almost Christmas.
Actually, McKay did reference a take-off from a demand perspective.
“These expected deficits are a joint function of historical under–investment in new primary supply and geological headwinds at existing operations intersecting with the ‘take–off’ of demand from copper–intensive energy transition spending that we expect will be a key feature of global industry dynamics as the final third of the 2020s arrives, if not earlier,” McKay said.
The Llahuin Copper-Gold-Moly Project is Southern Hemisphere’s flagship project in Chile, with the Company drilling to expand the current 680,000t CuEq resource this October.
Learn more about the Llahuin Project with this Company Presentation PDF from July 2023.
Date: 30 August 2023 | ASX Code: SUH | Frankfurt Exchange: NK4
Southern Hemisphere Mining Limited is an experienced minerals explorer in Chile, South America.
Chile is the world’s leading copper producing country and one of the most prospective regions of the world for major new copper discoveries. The Company’s projects include the Llahuin Porphyry Copper-Gold-Moly Project, the Lago Lithium Exploration Project, and the Los Pumas Manganese EV Battery Project, all of which were discovered by the Company.
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