Barrick Bid Suggests Copper Will be the New Gold

Reuters reports that Barrick’s (TSX:ABX) $7.68 billion offer copper miner Equinox Minerals (TSX:EQN) explains the global demand for copper.

The market news is quoted as saying:

Both copper and gold prices have hit record highs this year — copper on the London Metal Exchange touched an unprecedented $10,190 a ton in February, while spot gold rallied to a record $1,518.10 an ounce as recently as Monday.

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