BASE METALS

Copper future threat as juniors prefer to explore for gold

With a structural deficit coming soon to the copper market, there is little hope of exploration filling it any time soon due to a dearth of exploration funding, Kevin Murphy of S&P Global Commodity Insights told delegates at the 2023 PDAC conference in Toronto, Canada.

Paul Harris in Toronto, Canada
 PDAC 2023 in Toronto, Canada

PDAC 2023 in Toronto, Canada

"Well over half of all exploration budgets in 2022 were going towards gold exploration. We have to go back to 2007-2008 to find a period when base metals attracted more for exploration than gold," Murphy...

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