Copper Jul 22 (HG=F)
- Reuters
Commodities in 'perfect storm' says ERG, as crisis starts super cycle
Years of under-investment in mining of metals essential to energy transition, supply shocks and high energy prices will continue to drive commodity prices higher, Eurasian Resources Group (ERG) Chief Executive Benedikt Sobotka said on Wednesday. Sobotka said that a commodity super cycle has now begun and will carry on for the next 30 years, predicting a 20% rise in copper prices by the end of 2022. Luxembourg-based, privately-held ERG is a global supplier of copper and cobalt.
- Reuters
REFILE-Commodities in 'perfect storm' says ERG, as crisis starts super cycle
Years of under-investment in mining of metals essential to energy transition, supply shocks and high energy prices will continue to drive commodity prices higher, Eurasian Resources Group (ERG) Chief Executive Benedikt Sobotka said on Wednesday. Sobotka said that a commodity super cycle has now begun and will carry on for the next 30 years, predicting a 20% rise in copper prices by the end of 2022. Luxembourg-based, privately-held ERG is a global supplier of copper and cobalt.
- Reuters
UPDATE 1-Biden Administration makes revised proposal to protect key Alaska watershed
The Biden administration made a revised proposal on Wednesday to ban the disposal of mining waste in Alaska's Bristol Bay watershed, dealing a potential death blow to the contentious Pebble Mine project that has been pursued for over a decade. The project, one of the world's largest copper and gold deposits, has been through a roller coaster of regulations for the past 15 years as Bristol Bay's salmon has supported important wildlife and a multibillion-dollar industry. The U.S. Environmental Protection Agency (EPA) said in a statement it is seeking public comments on the revised proposal at hearings in June as well as by written submissions through July 5.
