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Copper could be the ‘new gold’ for South Africa

Jan Nelson anticipates a gradual increase in demand for copper over the next three decades. This is due to the worldwide shift towards sustainable energy and a more environmentally-friendly economy. Recent unrest in Ukraine and the resulting threat to Europe's supply of the metal has only served to underscore the importance of this natural resource.

Copper could be the ‘new gold’ for South Africa

Copper could be the ‘new gold’ for South Africa

Jan Nelson anticipates a gradual increase in demand for copper over the next three decades. This is due to the worldwide shift towards sustainable energy and a more environmentally-friendly economy. Recent unrest in Ukraine and the resulting threat to Europe’s supply of the metal has only served to underscore the importance of this natural resource.

The recent conflict in Ukraine and the subsequent threat to Europe’s reliance on Russian energy has caused a surge in the metal trade to around $10,900 per ton (R169,700). Pricing has since eased to what Nelson calls a ‘more realistic level’, but he said that over the next few decades demand should remain strong.

This is excellent news for South Africa and the Northern Cape, as the province has a large amount of deposits and recyclable copper oxide waste.

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