Phoenix Copper Sees Clean-Energy Boost for Copper, Zinc -- Commodity Comment

By Mary de Wet

The copper and zinc markets are getting a boost from clean-energy efforts, said the chief executive officer of metals exploration company Phoenix Copper Ltd.

On metals:

"It has been an exciting and successful 2021 so far. The copper and zinc markets continue to perform well, helped along by a Washington, D.C., administration clearly pushing for a global 'clean energy' revolution of electric vehicles and alternative power generation requiring the same copper metal in the resource at Empire," said Ryan McDermott, referring to the company's mining project in Mackay, Idaho.

"Gold and silver have seen some ups and downs, but prices are holding their own and certainly remain respectable. The cobalt price also remains respectable in the mid-$30/lb range, helping support exploration planning for our new earn-in partners at Redcastle."

"I expect to see the metals markets, particularly copper, continue to perform well as the manufacturing and fabricating sectors increase production on new and high demand. The recently approved $1 trillion U.S. infrastructure bill, which includes projects requiring significant quantities of metal, should also keep prices on an upward trend as the projects are engineered and get underway."

Write to Mary de Wet at mary.dewet@dowjones.com

(END) Dow Jones Newswires

August 17, 2021 07:50 ET (11:50 GMT)

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