SKULL
Active Member
With the Copper futures trading at $5.90/pound ( I believe that is just short of $10,000/ton ) is Copper soon to become the next Precious Metal ? From what I can find this is ATH for Copper. Soon copper lines & pipe will be disappearing & turning up at the scrap dealers with large amounts of $ changing hands.
In a Bizarre twist though, Glencore ( an international mining giant ) is telling the AUS Gov that if it doesn't receive Gov help it will close 2 mines & it's smelter in Mt Isa ( estimates put total direct & indirect job losses at potentially 17,500 jobs ). Glencore said it will loose $Billions of $ over the coming years without assistance from the Gov.
Mmm, what would cause copper mines & a copper smelter to be closed with the price of copper at ATH's ? Energy ! The AUS Gov has so screwed up the AUS energy market pricing that Glencore ( that has numerous profitable mines & smelter operation all around the world ) can't turn a profit on AUS copper because Energy Prices are so high.
AUS is around #4 Ranking in the LNG Export market. How can the worlds #4 producer of LNG ( now AUS #1 energy product ) so screw up the Energy market that AUS copper isn't profitable when it's selling at ATH ? Ask Labour & Albanese how this happened & u get shit like, global warming, Ukraine war, middle east conflicts, etc. Just utter BullShit. It's Labour Green/Renewable Energy policies that are screwing AUS businesses & the AUS public. It's a direct result of Labour's energy policies
But copper is so bulky to stack that it takes a ton to be equivalent to the 2 oz of Gold that I can slip into that little money pocket of my jeans. So copper still has a way to go before becoming a " Precious ".
In a Bizarre twist though, Glencore ( an international mining giant ) is telling the AUS Gov that if it doesn't receive Gov help it will close 2 mines & it's smelter in Mt Isa ( estimates put total direct & indirect job losses at potentially 17,500 jobs ). Glencore said it will loose $Billions of $ over the coming years without assistance from the Gov.
Mmm, what would cause copper mines & a copper smelter to be closed with the price of copper at ATH's ? Energy ! The AUS Gov has so screwed up the AUS energy market pricing that Glencore ( that has numerous profitable mines & smelter operation all around the world ) can't turn a profit on AUS copper because Energy Prices are so high.
AUS is around #4 Ranking in the LNG Export market. How can the worlds #4 producer of LNG ( now AUS #1 energy product ) so screw up the Energy market that AUS copper isn't profitable when it's selling at ATH ? Ask Labour & Albanese how this happened & u get shit like, global warming, Ukraine war, middle east conflicts, etc. Just utter BullShit. It's Labour Green/Renewable Energy policies that are screwing AUS businesses & the AUS public. It's a direct result of Labour's energy policies
But copper is so bulky to stack that it takes a ton to be equivalent to the 2 oz of Gold that I can slip into that little money pocket of my jeans. So copper still has a way to go before becoming a " Precious ".