Energy transition ensures rising copper demand

Dr. Copper is regarded as an early indicator. The price of copper fell sharply when the pandemic broke out. And the price went up again just as quickly when the economy recovered. The energy turnaround will ensure that demand for copper is fulminant. Here in Germany, too, there was agreement at a recent climate summit that a rapid increase in fully electric vehicles was essential. A lot still needs to be done to achieve this. As a survey showed, consumers fear above all that the range is too short and that there are too few charging stations for electric cars. Electric cars consume about three times as much copper in production as conventional vehicles. The red metal is also needed for charging stations. In addition, there is the copper demand for solar and wind power plants.

At the same time, Goldman Sachs, for example, is warning of an unprecedented copper deficit. The US bank is currently forecasting a deficit of 178,000 tons of copper for 2023. As a result, the bank experts see the price of copper rising to as much as $11,000 per ton this year. Almost all industry experts, such as Canaccord and S & P Global, seem to agree on the increase in copper demand. One argument is that at large mines, low grades or an end to recovery will reduce copper supply. Mostly, an annual growth rate for copper of at least three percent is predicted. No wonder that copper is highly valued by investors after gold and silver. Mining companies with copper in the ground are likely to benefit from the development on the copper market. Companies that own the valuable metal of the future include Aurania Resources and Torq Resources, for example.

Aurania Resources – https://www.youtube.com/watch?v=sxywh9j1Cjw – focuses on precious metals and copper in South America. The Lost Cities project in the Andes Mountains is particularly significant.

In Chile, Torq Resources – https://www.youtube.com/watch?v=daI7lRCo8Pk – is working on gold and copper properties. Three projects are part of the portfolio.

Current corporate information and press releases from Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -) and Torq Resources (- https://www.resource-capital.ch/en/companies/torq-resources-inc/ -).

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