BUSINESS
Factbox: Red-hot copper riding a new wave of consolidation
Glencore Plc (GLEN.L) has proposed $22.5 billion for Canadian copper miner Teck Resources Ltd (TECKb.TO) amid rising demand and constrained supply for the red metal fueling the green energy transition.
“The green energy transition has been a growth driver for many aspects of the metals and mining industry, with demand for key metals such as copper, nickel, lithium and cobalt expected to remain on an upward trajectory and supply to trend downward,” S&P Global Commodity Insights analyst Aude Marjolin said in a report.
According to S&P Global Market Intelligence, these copper mining agreements were the largest since 2022.