Resources market analysts Fitch Solutions have just published research predicting a rosy future for Australia’s copper miners. The gold ones will do well too they say.
They put this down to to their low costs of production, high-grades and good government regulations over the next decade.
They also expect five years of growth for copper demand and that more miners will move into the copper space as demand increases.
As Fitch pointed out “Copper is enjoying a lot of love”. I’m pleased to hear it.
Australia also ranks 2nd in the world after the US in Fitch’s Mining Risk/Reward Index. Low industry and country risks due mainly to excellent government regulation, and high rewards due to the mining sector‘s size, infrastructure and a highly competitive landscape.
This all augurs well for the reforms we expect the copper industry will increasingly embrace to not only stay competitive here & globally, but to enhance their reputation for green and smart copper.
The recently released Zero Emission Copper Mine of the Future set out how companies—including our Members—can embrace technology to find, mine and process ore with minimal environmental impact. A world first project that promises to make Australian copper shine on the world stage.
The report was just Stage 1. Stage 2 establishes collaboration between industry, mining companies, Governments, universities and researchers to pick the most promising technologies to pursue.
It won’t be easy and comes with additional costs, but the Australian copper industry has never been in a better position to back innovation and take mining into the future.
Cheers,
John Fennell