“While visibility over the near-term project pipeline is good, activity increases come with a wrinkle,” say the bank’s analysts. “Indeed, many of the projects currently developed have been in the making for almost three decades, and with exploration activity relatively limited in recent years, supply increases may fade from 2025.”
BofA sees a range of issues constraining production growth. These were mirrored by a presentation of Edgar Blanco Rand, vice minister of mining in Chile’s previous government, during the recent LME Week.
The official showed a portfolio of Chile-based projects set to be realized by 2029 at the cost of $74 billion to achieve a total production of 7 million tonnes. Focussing on copper, Edgar Blanco highlighted that production has flat-lined since 2000 at around 5.7 million…
