Copper Companies Prices Double from Lows
Source: Mineweb, Barry Sergeant (3/16/09)
". . .90% of the world's copper miners are making cash profits."
Prices for copper metal set all time nominal record levels in mid-2008, at $4.08/lb, before collapsing to $1.28/lb during December. Prices have since recovered strongly, hovering just below $1.70/lb on Monday, levels where at least 90% of the world's copper miners are making cash profits, according to industry surveys.
The overlap in metal interests and stock price performance is no coincidence, given that listed gold stocks, followed by the far smaller precious metals cousin, silver, rank as the world's top performing resource equities, with specialist copper miners in third place.