The World Has a New No. 2 Copper Supplier – by Marcelo Rochabrun and Michael J. Kavanagh (Bloomberg News – June 1, 2023)

https://www.bnnbloomberg.ca/

(Bloomberg) — The Democratic Republic of Congo displaced Peru as the second-biggest copper exporter last year, official data from the two countries show, in a changing of the guard for the mining industry.

While the numbers used in the chart below refer to shipments rather than production, the shift in positions underscores a couple of important trends. Firstly, an up-tick in social unrest and political uncertainties are constraining investment in South America, as more money flows into Africa’s rich ore-bodies.

Peru had sat comfortably as the biggest copper producer and exporter after neighboring Chile for years thanks to a wave of projects earlier this century that has largely dried up. In recent years, political upheaval and community protests have helped keep the country’s copper exports fairly flat.

For the rest of this article: https://www.bnnbloomberg.ca/the-world-has-a-new-no-2-copper-supplier-1.1927673#:~:text=(Bloomberg)%20%2D%2D%20The%20Democratic%20Republic,guard%20for%20the%20mining%20industry.