Prices rebounded to an all-time high on the COMEX of US$5.20 per pound, or US$11,464 per metric ton, on May 20 on tightening supply and increasing demand from the transition to renewable energy.
In the longer term, many market watchers see tight supply and higher consumption from sectors like the electric vehicle industry creating a robust outlook for copper.
Year-to-date gain: 93.1 percent; market cap: AU$252.01 million; share price: AU$0.56
Encounter’s share price climbed to a year-to-date high of AU$0.62 on June 24.
Year-to-date gain: 62.07 percent; market cap: AU$237.04 million; share price: AU$0.235
Aeris Resources has three primary copper assets in Australia, with two currently in production: the Tritton operations, and the North Queensland operations. The company recently placed its Jaguar zinc-copper operation on care and maintenance. Its portfolio also contains the producing Cracow gold mine in Queensland.
Aeris’ share price traded with the rising copper price to hit a year-to-date high of AU$0.34 on May 20.
Year-to-date gain: 43.33 percent; market cap: AU$64.04 million; share price: AU$0.043
Near-term copper producer Cyprium Metals is focused on developing multiple copper projects throughout Western Australia. Its most advanced is the Nifty copper mine project located in Western Australia’s Pilbara region, which operated until 2019, when it was put on care and maintenance because of low copper prices.
“A moderate investment in the brownfield processing plant capacity can nearly double the potential throughput of the plant, enabling the surface mine to produce around 36,000 tonnes of copper metal per year by matching strong mine design, right equipment selection and expanded processing capacity,” Cyprium Executive Chair Matt Fifield commented.
Shares in Cyprium reach a year-to-date of high of AU$0.05 on June 7.
Year-to-date gain: 40 percent; market cap: AU$198.53 million; share price: AU$0.49
Bougainville Copper is working to reopen the past-producing Panguna copper complex, which ceased operations in 1989.
Panguna is considered one of the largest copper deposits in the world, and according to the company, its successful restart is viewed as a critical component of future economic independence for Bougainville, which is an autonomous region in Papua New Guinea. The country’s government holds a 36.5 percent share in the company.
The news sent shares of the company spiking to their best year-to-date close of 2024 — AU$0.80 on February 2 — more than double Bougainville Copper’s close of AU$0.35 the previous day.
“The company will fully consider the matters raised in the claim and intends to vigorously defend its position,” Bougainville Copper stated in the press release.
Year-to-date gain: 21.74 percent; market cap: AU$239.77 million; share price: AU$0.42
AIC Mines owns the high-grade Eloise copper mine in North Queensland, as well as a portfolio of exploration-stage copper-gold projects in Australia. Eloise started production in 1996, and the company is looking to expand the life of the operation by the nearby Jericho deposit.
Record copper prices lifted AIC Mines’ share price to a year-to-date high of AU$0.60 on May 20.
Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.
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