202430 Dec 2023 08:27
Feels like despite the years of frustration and waste we are now in the right sector at the right time.
The piece below sums it up quite well for me
“But First Quantum’s travails reveal something even more important: it is becoming very difficult to build large-scale copper mines in Latin America. There are more than $100bn-worth of copper mining projects across the region that are being held up by environmental permits or processes.
Latin American states, most of which have weak legal mechanisms for building strategic projects, are struggling to balance the need for new mines with increased environmental activism and the historical legacy of disaffected communities.
Latin America is normally on the peripheries of the world economy, but now the intricacies of its internal politics have global significance. Peru and Chile account for more than 40% of world copper production, while Ecuador and Argentina could become top-ten producers by 2030. The region’s inability to build new mines is bad news for the copper-intensive energy transition, but good news for the copper price”
Looking forward to much better times ahead. Good luck to all and Happy New Year.