Iron giants, red metal: record prices highlight SA mineral potential
There’s no doubt it’s a positive time for those trading in resources, with two commodities in particular – copper and iron ore – hitting all-time price highs in the last few days alone.
The basis on which those highs have been achieved is slightly different – copper’s run is seemingly attached to the emerging and long-term green transition and rumours of rising royalties in Chile and Peru, while in very simple terms iron ore’s price hike comes from a combination of booming Chinese manufacturing and construction, a supply shortfall, and pandemic challenges in the nation’s main commodity rival Brazil.
Australia has become known over many years for its mineral endowment and expertise in exploration and extraction – in many aspects around the resources sector and its associated industries we lead the world.
But while the Pilbara may steal the headlines in the iron ore space, and the Lachlan Fold Belt seems to be the hot play for copper explorers, Australia spreads far and wide. So too should the investment conversation.
One state which punches well above its weight but perhaps a little under the radar in recent conversation is South Australia – remarkably well endowed in its own right and with projects established and emerging in both the steelmaking component and the red metal.
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