Copper plays a key role in the energy transition

There are several reasons why the copper price should pick up again. Last year, the metal faced headwinds from closures in China caused by the pandemic. But this obstacle has now fallen away. China’s opening should again create increased demand for copper. Over the past 40 years, China’s copper demand has increased eightfold. The country is subsidizing the purchase of electric vehicles and a booming auto industry now exists in this sector. Fast-charging stations and electric vehicles consume large amounts of copper in the manufacturing process. In addition, there is demand from the wind and solar energy sectors, and geothermal plants also require copper. This is also an area that China is pushing. Clean power generation is also a major issue in the U.S. and Europe. Five times as often, the metal is used in renewable energy systems compared to fossil and nuclear energy sources. By 2040, copper demand is estimated to increase by more than 50 percent.

The most important copper supplier is Chile. Peru is in second place. The unrest in Peru continues and seems to have restricted production even more in February than in January. For example, two important mines are severely hampered by roadblocks. This is now increasing concerns that there could be a temporary halt in production, which in turn could make copper more expensive. In the longer term, copper investments should be a good idea for investors. Torq Resources – https://www.commodity-tv.com/play/mining-newsflash-with-vizsla-silver-torq-resources-first-tin-sibanye-stillwater-and-mawson-gold/ – or Hannan Metals – https://www.commodity-tv.com/play/hannan-metals-planning-drill-program-after-positive-airborne-survey-at-valiente-in-peru/ – would come to mind. Despite the unrest, Hannan Metals has been very active on its prospective San Martin copper-silver project in the Andes Mountains of Peru. There is also the County Clare zinc-silver project in Ireland. Torq Resources has been active in copper and gold in Chile. Surface exploration is currently underway at the Santa Cecilia gold-copper project.

Current corporate information and press releases from Torq Resources (https://www.resource-capital.ch/de/unternehmen/torq-resources-inc/ ) and Hannan Metals (https://www.resource-capital.ch/de/unternehmen/hannan-metals-ltd/ ).

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