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- ⛏ Copper Crisis Forming?
Greetings Contrarian,
Source: Trading Economics, Numerco.
This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and… today is Friday, let's have fun!
Here are the highlights:
🤔 Copper Crisis Forming?
😉 Lithium JV To Watch
🧐 Visual Of The Day
🤔 Copper Crisis Forming?
Chile's Codelco, the world's leading copper producer, faces potential insolvency due to escalating costs and rising debts, which are projected to increase from $18 billion to $30 billion by 2030, as per a report by Chile’s Centre for Copper and Mining Studies (CESCO).
These issues arise from projects that didn't meet their output goals. In contrast, Codelco asserts its strong financial standing. Recent concerns were heightened after the resignation of Codelco's CEO, Andre Sougarret, amidst challenges in the business.
Despite investing $15 billion, output has decreased. CESCO emphasized the need to evaluate project’s technical feasibility and cautioned against Codelco's potential involvement in lithium mining.
The company's deteriorating performance affects Chile's economic future, necessitating reforms in governance and investment practices.
Can you imagine what would happen to the copper price if this company went belly-up?
😉 Lithium JV To Watch
Canada’s Summit Nanotech and Australia’s Power Minerals (ASX: PNN) are forming a joint venture to boost lithium production at the Salar de Incahuasi in Argentina. This site contains high-quality brines ideal for lithium extraction.
The collaboration will utilize Summit's patented direct lithium extraction technology, denaLiTM, which efficiently extracts lithium from brine, and Power's experience in exploration and development. This initiative aims to leverage both companies' strengths to produce vast amounts of top-tier lithium.
The Salta project in Argentina covers 15,890 hectares across multiple salt lakes with lithium potential.
The only projects moving forward these days are lithium. Change our minds!
📰 In Other News:
🧐 Visual Of The Day
🇨🇦 Weekly gold drilling highlights
— MinerDeck (@MinerDeck)
1:30 PM • Aug 18, 2023
🤣 Meme Of The Day
My financial advisor reviewing my diverse portfolio of shitcos
— Tin Investor (@TinInvestor)
3:03 AM • Aug 17, 2023
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Happy Speculating!
The Editor
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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