China Can Use More Copper Than World Has = Rising Prices

Demand is skyrocketing.

Headline: China Can Use More Copper Than World Has Now With Yang's Stove

China is on pace to almost triple its annual use of copper to 20 million tons in 25 years, according to CRU, a London-based metals and mining consulting firm. That’s more than the world produces today. Rising demand will create a potential global shortage of 11 million tons a year by 2035, CRU forecasts.

New supply faces significant regulatory challenges. Promising copper projects such as Taseko's Prosperity project, already delayed numerous times, has been delayed once again. Regulatory approval of Prosperity has been a work in process for 17 years.

Headline: UPDATE 3-Canada blocks development of Taseko mining project

The government of Canada has decided to block the development of Taseko Mines' (TKO.TO) controversial copper-gold mine in British Columbia, Environment Minister Jim Prentice said on Tuesday.

Ottawa's decision -- based on "concerns about the significant adverse environmental effects" -- overrules British Columbia's provincial government, which had granted permission for the Prosperity project to go ahead.

Prices tend to rise when demand exceeds supply.

Source: bloomberg.com
Source: reuters.com