TORONTO Copper prices are
unlikely to drop in the short or long term due to continuing
global supply constraints, the top executive of Panoro Minerals
Copper mining projects are still
having difficulties coming online, Panoro president and chief
executive officer Luquman Shaheen told AMM at the
Prospectors and Developers Association of Canada (PDAC)
convention in Toronto.
Earlier in the week, Wood
Mackenzie Ltd. copper analyst Paul Benjamin said copper prices
will probably dip between now and 2017 amid growing
global supply (
amm.com, March 5).
"Ive heard every year for
the last four years that in two years there will be an excess
supply of copper, but it always seems to be two years away,"
Shaheen said. "You look at factors like energy and water
challenges in northern Chile and lower grades affecting
metallurgical recovery; there always seems to be a new
Even if copper prices were to
fall moderately, "theyre still at historical highs," he
On the demand side, Shaheen sees
"increasing confidence in the short, medium and long term," he
"There was some uncertainty with
the transition of a new Chinese government and what that would
mean for demand, but those uncertainties are fading a little
bit now," he said.
The Vancouver, British
Columbia-based company owns 13 copper and gold properties in