Why the World Has Gone Cuckoo for Copper – by Julie Steinberg (Wall Street Journal/MSN.com – May 14, 2024)


After one of the world’s top copper producers recently hit a financial crunch, the Biden administration started huddling with potential investors about taking a stake in the company’s Zambian mines worth as much as $3 billion.

The search isn’t restricted to American companies, with entities from the United Arab Emirates, Japan and Saudi Arabia—all viewed as friendly to U.S. interests—expressing interest in the stake in First Quantum Minerals’ assets, according to people familiar with the matter.

The goal is simple: to keep it out of Chinese control and prevent the Asian superpower from tightening its grip over the global supply of crucial metals and minerals. The bidding, expected to be concluded later this year, is part of a global rush to acquire more copper, a key component in everything from electric cars to transmission lines and the data centers powering the AI revolution.

For the rest of this article: https://www.msn.com/en-us/money/markets/why-the-world-has-gone-cuckoo-for-copper/ar-BB1mkVqu