Despite low growth in China, the copper market is increasingly moving into deficit as electric cars become more popular. In July, fully electric vehicles accounted for almost 15% of all global car sales. The increasing demand for copper for cars and charging infrastructure is expected to lead to a long-term deficit. Foran Mining plans to bring its McIlvenna Bay project in Canada into production, which contains copper as well as other sought-after metals such as zinc, gold and silver. The company has received strategic investment and expects commercial production by early 2026. Exploration activities are also underway to potentially expand the project - the potential is certainly there. We are therefore positive on the company and give a target price for the stock in the video.
Foran Mining: Construction of a Copper-Zinc-Gold Mine in Canada with Exploration Potential
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