Global Copper Mining Production Could See Steady Growth Over Next Few Years

PALM BEACH, Fla., July 29, 2020 /PRNewswire/ — Although the effects of mine closures as a result of Covid-19 have had an extensive impact on the possible production volumes of many copper mining companies worldwide, the coming years, revenues are still projected to continue to grow through 2029. Global copper mine production will see steady growth over the next few years, as a number of new projects and expansions come online, supported by rising copper prices and demand, Fitch Solutions forecasts in a new report. The Fitch analysts in Mining.com predict: “global copper mine production to increase by an average annual rate of 3.1% over 2020-2029, with total output rising from 20.3 to 26.8 million tonnes over the same period. In 2020, Fitch forecasts Chile to increase production modestly by 0.5% to 5.89 million tonnes… Downside risks to production will stem from declining ore grades across the country, unfavourable climate, protests that hamper supply chain operations and union strikes, analysts predict.” Active mining stocks mentioned in today’s commentary include: Ridgestone Mining Inc. (TSX-V: RMI) (OTCQB: RIGMF), Southern Copper Corporation (NYSE: SCCO), B2Gold Corp. (NYSE: BTG) (TSX: BTO), Alamos Gold Inc. (NYSE: AGI) (TSX: AGI), Kinross Gold Corporation (NYSE: KGC) (TSX: K).