Volcanoes. There's copper in volcanoes.*
From Mining.com:
According to a report by S&P Global Market Intelligence, copper exploration’s total budgets increased 21% to just shy of $2.8 billion in 2022, the highest level since 2014.
The increase was driven by a strong recovery for the price of copper since hitting multi-year lows at the outset of the global pandemic.
The copper price has doubled from March 2020 when the bellwether metal briefly fell below $2/lbs ($4,400 a tonne) and prices are set to stay elevated given the rosy demand outlook through the end of the decade.
Last year saw two large copper mines start up operations – Anglo American’s 60%-owned Quellaveco in Peru and Cukaru Peki (Timok) in Serbia, which is wholly-owned by China’s Zijin Mining. Teck Resources’ Quebrada Blanca in Chile will follow this year, while two other major projects....
