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The $149 billion pipeline which would expand the world’s copper supply could be in trouble. As quoted in the news release: Producers are counting on expansions and the development of new operations to meet supply shortages they forecast arriving toward the end of the decade. The plans are fraying as reluctant lenders, political wrangling, technical obstacles …
The $149 billion pipeline which would expand the world’s copper supply could be in trouble.
As quoted in the news release:
Producers are counting on expansions and the development of new operations to meet supply shortages they forecast arriving toward the end of the decade. The plans are fraying as reluctant lenders, political wrangling, technical obstacles and a lack of water and electricity push back project deadlines from Papua New Guinea to Peru.
Only six major projects to build new mines or expand existing operations will be completed by 2020, with two of that total still at risk of potential delays, according to researcher CRU Group. That compares with a global slate of about 80 planned developments, according to Bloomberg Intelligence.
Freeport-McMoRan Inc., the largest publicly listed copper producer, forecasts an end tothe metal’s current surplus from next year as demand improves and output drops. Chile’s state-owned Codelco, the top producer, is predicting a deficit by 2018, while BHP Billiton Ltd., operator of the world’s biggest copper mine, sees a shortage from 2019.
