According to the S&P report, copper demand doubles by 2035 due to the energy transition. Given the long lead times and difficulties permitting new mines that implies huge deficits over the next decade. Up to 10mn tonnes unless productivity increases and scrap picks up.

Robert Friedland filed to take Ivanhoe Electric public. A big new copper producer with assets in the USA at a time when security of supply is in focus.

Rumours linking with Anglo American with this copper mine in Botswana surface today and lo and behold a very, very detailed presentation appears on its wesbite. khoemacau.com/news-media/pre… It's almost as if a process is about to kick off.

I think this means Russian metals is being effectively banned from the LME for the foreseeable future. Although nickel is exempt

Unsurprisingly Pentwater thinks the Rio bid for TRQ is too low.