Canada’s Barrick Gold Corp. (TSX:ABX) takes bold step into copper – Dominion Lending Centres Clearlease
VANCOUVER, BRITISH COLUMBIA – (April 27, 2011) Clearlease.com Reports more big miners will likely follow the world’s largest gold company into the copper sector as the metal’s price soars alongside Chinese industry’s growing hunger for it, experts say.
Canada’s Barrick Gold Corp. (TSX:ABX) took a bold step into copper Monday April 25, 2011 with a friendly $7.3-billion bid to acquire Equinox Minerals Ltd. (TSX:EQN). Other miners will likely follow suit as copper becomes increasingly lucrative while China seeks to meet its need for the metal used in electric cables, cars, cellphones and trains, Scotiabank commodities specialist Patricia Mohr said Tuesday.
“Copper is much more profitable than gold. Considerably more, even with the record gold prices we’ve been seeing recently. That’s why I’ve been calling copper the new gold,” she said.
Copper is likely to hover around record prices for the next few years, because there isn’t enough in the world to feed China’s demand, which will climb even higher this spring as better weather leads to construction season, Mohr said.
The price of copper was trading at US$4.33 per pound midday Tuesday, below the record of $4.60 set in February. But Mohr said copper is still bringing in “huge” profit margins.
“Even at $4.29 you have a 68 per cent profit margin,” she said, adding that other metals bring in about 50 per cent.
The high cost of mining and increasingly lower grade of copper found at established mines will inevitably lead to smaller players being swept up as the major global miners look to get into the industry and diversify with little risk.
Companies will see copper as a worthwhile investment while a world shortage of copper grows deeper as China grows in the next decade, said Tom Whelan, head of mining and metals research at consultancy firm Ernst & Young.
China already consumes between 35 and 40 per cent of the world’s supply of copper, at about seven million tonnes a year, and appears to have an insatiable appetite for more. Whelan said statistics from the Chinese government indicate demand will grow to 12 million tonnes over the next 10 years on an annual basis.
But the world’s supply won’t expand fast enough to keep up with the demand, he said.
“It’s not like mining companies can just flip a switch,” he said, adding that it takes time to make mine sites suitable for extracting metal.
“Supply remains constrained and there’s been an underinvestment in new mine supply. It’s just taking longer and longer to get mines into production. At the end of the day the supply growth is constrained.”
He said global copper output should rise to 20 million tonnes by 2015, helping to ease the supply shortage.
“Copper is at $4.29 thereabouts and this is at a time when China’s imports for this part of the year have slowed down, yet copper prices remain very strong,” he said.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
VANCOUVER, BRITISH COLUMBIA – (April 27, 2011) Clearlease.com Reports more big miners will likely follow the world’s largest gold company into the copper sector as the metal’s price soars alongside Chinese industry’s growing hunger for it, experts say.
Canada’s Barrick Gold Corp. (TSX:ABX) took a bold step into copper Monday April 25, 2011 with a friendly $7.3-billion bid to acquire Equinox Minerals Ltd. (TSX:EQN). Other miners will likely follow suit as copper becomes increasingly lucrative while China seeks to meet its need for the metal used in electric cables, cars, cellphones and trains, Scotiabank commodities specialist Patricia Mohr said Tuesday.
“Copper is much more profitable than gold. Considerably more, even with the record gold prices we’ve been seeing recently. That’s why I’ve been calling copper the new gold,” she said.
Copper is likely to hover around record prices for the next few years, because there isn’t enough in the world to feed China’s demand, which will climb even higher this spring as better weather leads to construction season, Mohr said.
The price of copper was trading at US$4.33 per pound midday Tuesday, below the record of $4.60 set in February. But Mohr said copper is still bringing in “huge” profit margins.
“Even at $4.29 you have a 68 per cent profit margin,” she said, adding that other metals bring in about 50 per cent.
The high cost of mining and increasingly lower grade of copper found at established mines will inevitably lead to smaller players being swept up as the major global miners look to get into the industry and diversify with little risk.
Companies will see copper as a worthwhile investment while a world shortage of copper grows deeper as China grows in the next decade, said Tom Whelan, head of mining and metals research at consultancy firm Ernst & Young.
China already consumes between 35 and 40 per cent of the world’s supply of copper, at about seven million tonnes a year, and appears to have an insatiable appetite for more. Whelan said statistics from the Chinese government indicate demand will grow to 12 million tonnes over the next 10 years on an annual basis.
But the world’s supply won’t expand fast enough to keep up with the demand, he said.
“It’s not like mining companies can just flip a switch,” he said, adding that it takes time to make mine sites suitable for extracting metal.
“Supply remains constrained and there’s been an underinvestment in new mine supply. It’s just taking longer and longer to get mines into production. At the end of the day the supply growth is constrained.”
He said global copper output should rise to 20 million tonnes by 2015, helping to ease the supply shortage.
“Copper is at $4.29 thereabouts and this is at a time when China’s imports for this part of the year have slowed down, yet copper prices remain very strong,” he said.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Canada’s Barrick Gold Corp. (TSX:ABX) takes bold step into copper – Dominion Lending Centres Clearlease
VANCOUVER, BRITISH COLUMBIA – (April 27, 2011) Clearlease.com Reports more big miners will likely follow the world’s largest gold company into the copper sector as the metal’s price soars alongside Chinese industry’s growing hunger for it, experts say.
Canada’s Barrick Gold Corp. (TSX:ABX) took a bold step into copper Monday April 25, 2011 with a friendly $7.3-billion bid to acquire Equinox Minerals Ltd. (TSX:EQN). Other miners will likely follow suit as copper becomes increasingly lucrative while China seeks to meet its need for the metal used in electric cables, cars, cellphones and trains, Scotiabank commodities specialist Patricia Mohr said Tuesday.
“Copper is much more profitable than gold. Considerably more, even with the record gold prices we’ve been seeing recently. That’s why I’ve been calling copper the new gold,” she said.
Copper is likely to hover around record prices for the next few years, because there isn’t enough in the world to feed China’s demand, which will climb even higher this spring as better weather leads to construction season, Mohr said.
The price of copper was trading at US$4.33 per pound midday Tuesday, below the record of $4.60 set in February. But Mohr said copper is still bringing in “huge” profit margins.
“Even at $4.29 you have a 68 per cent profit margin,” she said, adding that other metals bring in about 50 per cent.
The high cost of mining and increasingly lower grade of copper found at established mines will inevitably lead to smaller players being swept up as the major global miners look to get into the industry and diversify with little risk.
Companies will see copper as a worthwhile investment while a world shortage of copper grows deeper as China grows in the next decade, said Tom Whelan, head of mining and metals research at consultancy firm Ernst & Young.
China already consumes between 35 and 40 per cent of the world’s supply of copper, at about seven million tonnes a year, and appears to have an insatiable appetite for more. Whelan said statistics from the Chinese government indicate demand will grow to 12 million tonnes over the next 10 years on an annual basis.
But the world’s supply won’t expand fast enough to keep up with the demand, he said.
“It’s not like mining companies can just flip a switch,” he said, adding that it takes time to make mine sites suitable for extracting metal.
“Supply remains constrained and there’s been an underinvestment in new mine supply. It’s just taking longer and longer to get mines into production. At the end of the day the supply growth is constrained.”
He said global copper output should rise to 20 million tonnes by 2015, helping to ease the supply shortage.
“Copper is at $4.29 thereabouts and this is at a time when China’s imports for this part of the year have slowed down, yet copper prices remain very strong,” he said.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###