"I think you're going to see a lot more activity out of Arizona," opines San Francisco-based metals analyst Kevin Pull, in an interview with the Investing.com website.
He's predicting continued high copper prices and is high on Rosemont Copper and on Redhawk Resources, Inc., another Vancouver,B.C.-based mining company that controls the Copper Creek deposit in the San Manuel area north of Tucson. That company announced recently that it's planning an underground mine, and estimates a total underground copper resource of 2.32 billion pounds.
Overall, on Arizona, he said: "Many producers are looking toward more mining-friendly, politically stable places. In the U.S., Arizona comes to mind. It's a politically stable place to mine with extensive infrastructure close to many of the deposits. In fact, it's an excellent operating jurisdiction, with great infrastructure, labor and neighboring operations including smelters with excess capacity."
He predicted global copper prices will peak this year at about $4 a pound, and average $3.75. As for Rosemont, he sees the state ADEQ's recent issuance of an air quality permit for the embattled project as a sign that full permitting is on its way. Production could start by the second quarter of 2015, he said, although opponents may have something to say about that if they can tie the mine in the Santa Ritas up in court.
Please Wait…