Phoenix Copper Sees Clean-Energy Boost for Copper, Zinc -- Commodity Comment
August 17 2021 - 7:52AM
Dow Jones News
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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