Copper market is stronger than ever
Renewed excitement about the mineral sees shares and valuations leap, despite caution from some areas
08 August 2024 - 05:00
On July 30 BHP, the world’s largest miner, and Lundin Mining Corp, a Canadian firm, announced plans to invest C$4.1bn in Filo Corp. This is no small investment, especially for a business that is yet to generate cash flow. But there’s excitement about Filo’s exploration of Vicuña, a copper-rich district on Chile’s border with Argentina.
Valuations of firms in copper exploration and mining have rocketed in the past five years. It’s worth recalling that Barrick Gold balked at Freeport-McMoRan’s $10bn valuation when the two discussed a takeover in 2020. Freeport is now capitalised at $60bn (C$83bn)...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.