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

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.