Macquarie says copper price rally still running ahead of reality
Copper price is approaching $14,000 again, but copper stockpiles – already at unprecedented levels – continue to build globally.
Frik Els , Editor
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
Mining’s nuclear reality check: SMRs are still not on miners’ shopping lists
Small and micro modular reactors are at the very bottom on miners’ low-carbon energy plans. That is striking given the hype around SMRs, the AI-driven nuclear revival and the increasingly bullish outlook for uranium.
Mining’s next boom is off the map: Arctic ice, abyssal plains and asteroids
Depletion, lower ore grades and higher prices pushing miners to new frontiers. The Arctic is already drawing capital, deep-sea mining is moving into a regulatory fight, and space remains the long-dated option.
CHART: Copper price surge mints 23 new unicorn mines
The ranks of copper mining’s answer to Silicon Valley's $1 billion startup unicorns swell to 75.
CHART: First Quantum’s Peru project joins ranks of copper giants
First Quantum Minerals' resource estimate of its La Granja project in Peru reveals 44 million tonne contained copper orebody.
CHART: Freeport-McMoRan stock craters on Grasberg ramp-up delay
Shares in Freeport plunge after the world's number 2 copper company flags significant delays in Indonesian mine rampup.
BHP now expects nearly 2M tonnes copper production after record Escondida throughput
Record mill performance and improved recoveries offset lower grades at BHP's largest copper mine; new concentrator planned.
Peru reauthorizes Southern Copper’s $1.8B project amid election chaos
Copper alone accounts for roughly 25–30% of Peru’s total exports, by far the country's main economic driver and contributor to state coffers.
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Gold price loses its grip: World’s 50 biggest mining companies shed $228 billion in Q2
Gold's slide back below $4,000 an ounce wipes out most of mining's 2026 gains, but the diversified giants – led by a resurgent BHP – are staging a comeback.