Copper mining is Opec on crack, so why is the price falling? – by Frik Els (Mining.com – July 13, 2021)

https://www.mining.com/

Much like the reference in this piece’s headline, it’s a cliché to call a country the Saudia Arabia of something.

The top search suggestion at the moment is the Saudi Arabia of wind. That’s Boris Johnson’s dream for the UK and from a leader with an affinity for hot air, perhaps not unexpected.

The Saudi Arabia of lithium query takes you to a story about Chile, which is wrong. Neither is it Afghanistan as this article in the NYT would have it. It’s Nevada; Elon Musk confirmed it last year.

The Saudi Arabia of sashimi is… well just google it. (it’s Palau – ed.) Chile is not the Saudi Arabia of copper either. It’s the Saudia Arabia, Iraq, UAE, Iran, Kuwait, Nigeria, Angola, Algeria, Venezuela, Libya, Congo-Brazzaville, Gabon and Equatorial Guinea of copper.

Chile’s share of global copper output is on par with the combined output of the 13 members of Opec in the crude trade.

For the rest of this article: https://www.mining.com/copper-mining-is-opec-on-crack-why-is-the-price-falling/

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