The price of copper, one of the most important metals for the energy transition, surpassed $10,000 per tonne on the London market this Friday, its highest in two years.
The appreciation since the beginning of the year coincides with an offer by Australian mining company BHP Billiton, one of the world’s largest, to buy its British rival Anglo American.
The offer was rejected by Anglo American on the grounds that its price undervalued the company.
Banca March analysts quoted by Efe said growing demand for copper was one of the reasons that prompted BHP to submit the proposal, as Anglo American has mines in countries such as Chile, South Africa, Brazil and Australia.
If the deal goes through, he said the purchase would “give BHP access to more copper, one of the most sought-after metals in the clean energy transition.”
A recent report from Plenisfer Investments, which is part of the Generali Investments investment ecosystem, emphasizes that real asset investments should focus on “commodities essential for the energy transition, such as copper or uranium.”
Plenisfer Investments emphasizes that these raw materials are characterized by “limited supply and growing demand.”
The energy transition involves an increase in the weight of electricity in the economy and, as a result, an expansion of transport networks.
Copper will play an important role in this process as it is one of the best conductors of electricity.
Author: Lusa
Source: CM Jornal
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