A transfer of lucrative cobalt and copper assets by the Democratic Republic of Congo’s state mining company enabled a little-known investor to make $40 million within weeks.

Current prices would seem “far too low” if governments fulfill pledges for green infrastructure and electric-vehicle incentives, Concord Resources said.

The brokerage’s large bullish bets have startled some traders as prices for copper, widely used in power and construction, hit 9-1/2-year highs.

With a dearth of shovel-ready development projects in the pipeline, 2021 could see a lot of merger-and-acquisition activity in BC.

NorthMet project would be Minnesota’s first copper-nickel mine.

Capstone’s production for the year comes in at 156.9 million lb copper, surpassing its 2020 guidance.

The company has agreed to buy a share of cobalt production from Vale’s Voisey’s Bay mine in Canada, giving the mining royalty and streaming company exposure to the key battery metal for the first time.

Company also expects to begin commercial production at its Aripuanã zinc project in Brazil by 2022.