Copper Turned Into Precious Metal as Miners Loath to Sell

Copper is a precious metal these days.

While top miners such as Anglo American Plc and Glencore Plc are selling anything from iron ore and coal to agricultural assets to pay down debt amid a rout in commodity prices, they’re loath to part with the best copper resources.

That’s because it’s one of the few metals expected to be in shortage by the end of this decade as cooling investment means not enough mines are built. Those with cash to burn are taking an interest, with copper a focus for miners and financiers gathering this week for an annual industry conference in Chile, the world’s biggest producer.

Bloomberg

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