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Copper wins the marathon

 

 

Investor, Modern Energy Expert & Author of ‘My Electrician Drives a Porsche?’, Gianni Kovacevic, CEO, CopperBankis bullish on copper, especially given the declining grades coupled with rising demand.

Mr Kovacevic – speaking ahead of his appearance at Mines and Money Asia in Hong Kong this April – said that the average grade of the copper ore that went through the mills of the 15 largest copper producers has declined from 1.2% in 2010 to 0.72% in 2016.

“The future of copper mining is going to increasingly be lower grade, deeper, higher elevation and in places that, perhaps, do not have legacy copper mining culture”.

“Copper has the most new demand growth of any of the major commodities, perhaps as much as 50% new demand to 2040. How can the world's copper producers provide 10 million tonnes of new annual demand? A much higher copper price is the only way” Mr Kovacevic claimed.

Pressed as to which copper projects attracted him, Mr Kovacevic was keen on the Maricunga in Chile, in particular NGEX Resources Los Helados and Josemaria Projects and Filo Mining’s Project. “The area has some 100 million ounces of gold and is pushing close to 100 Billion pounds of copper. These are huge numbers.” Mr Kovacevic was also keen to point out the advantages of his CopperBank company, offering shareholders optionality to benefit from copper’s higher prices.

Mr Kovacevic also pointed out that China is becoming the key driver in the Electric Vehicle revolution:“China is the leader in electric motorization across the board”.

Pressed on whether industry predictions of EV take-up of 30% by 2030 are accurate Mr Kovacevic said:

“If China can do it, then the incumbents can likely do it. If the Chinese have difficulty, it would be very hard to see the others achieve a 30% figure in the next 12/13 years”.

However, Mr Kovacevic stressed that the key point was that the all ground transportation would be increasingly electrified. As to who would be the winners in the EV revolution Mr Kovacevic was cautious, pointing out the unpredictability of variables such as new battery chemistries, substitution and oversupply.

“What investors in all fields should acknowledge, is that there is an army of brilliant minds working in this space and the consumer will be the biggest winner as all areas of energy become cleaner, cheaper, smarter, and more accessible.”

Gianni Kovacevic will be scrutinising the modern energy pivot and discussing the winners and losers at the upcoming Mines and Money Asia conference in Hong Kong from April 3 – 6.

Now in its eleventh year, Mines and Money Asia is the largest gathering of miners and investors in Asia, with this year’s event expecting to see over 150 mining companies in attendance along with over 600 investors.  For more information please visit asia.minesandmoney.com