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Panoro on a roll at Cotabambas

The copper cycle is primarily a supply-side driven loop, where the overarching governing factor is the long lead times and heavy capital commitments required to bring new copper production onto the market.

Panoro on a roll at Cotabambas Panoro on a roll at Cotabambas Panoro on a roll at Cotabambas Panoro on a roll at Cotabambas Panoro on a roll at Cotabambas

Drill rig set-up at Cotabambas in Peru

The copper price has turned a corner in recent times, coming off a prolonged price downturn from 2012 to 2017, which saw the red metal bottom at just under US$2/lb.