Copper is walloped and a strongly-opposed mine and project may both have a path to production
Description
Copper futures slid 7% to $4.20, the metals worst drop since 2022, noted mining audiences manager Michael McCrae.
On Saturday McCrae recorded Kitco Roundtable.
Worries about China's economy hurt copper. However, gold hit an all-time mid-week on Federal Reserve's pivot, as well as U.S. political developments.
In mining news, Panama’s government says it will engage with First Quantum Minerals Ltd. in the coming months to discuss the environmental impact of its shuttered copper mine, according to a report by Reuters. The mine was closed by the government last year. Cobre Panama is a top ten copper mine.
Serbia, the European Union and Germany inked on Friday a series of deals granting EU members and some of the continent’s most important carmakers exclusive access to Serbian lithium, also according to a report by Reuters. Jadar is one of the largest lithium deposits in the world.
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