Tuesday, 12 November 2019

Barrick Gold Chief Eyes Growth In ‘Strategic’ Copper: “It Is More Strategic Than Cobalt, More Strategic Than Lithium. You Can’t Replace Copper On Conductivity. It Is A Modern Metal.”

Financial Times brings us the latest confirmation about the strategic value for red metal which is going green during the Energy rEVolution. Mark Bristow, CEO of Barrick Gold considers copper more strategic than cobalt or lithium for the modern world with ongoing electrification of our transportation and energy. You will find almost the same arguments presented in this article as we are discussing here: ageing mines which are facing rapid acceleration of the renewable sources of energy and electric cars. But, as always, it is the most important who is talking about it and now Barrick Gold brings copper into the mining industry headlines.

For all our followers it will be a very interesting situation. TNR Gold is holding NSR Royalty on the entire Los Azules Copper in San Juan, Argentina. The "sleeping giant" - as Rob McEwen calls it - is being developed by McEwen Mining. Rob McEwen has partnered with Eric Sprott and Electrum Group in the quest for the next Donlin Gold in Alaska - the giant gold project which is being developed by JV between Nova Gold and Barrick Gold. The new venture is making waves in the industry after first drilling results and bought financing last week. TNR Gold is advancing Shotgun Gold near the Donlin Gold in Alaska and looking for a strategic partner to grow together and now Barrick Gold is looking for strategic copper for growth. The mining world is really small once you start counting respectable people with money. 

Discussions about Freeport McMoran being the target of Barrick's copper ambitions will be addressed by professional journalists in the weeks ahead of us. I would like to point out here that Rob McEwen is looking for the strong JV partner to advance Los Azules Copper and has provided a very interesting update on the project and was talking about the truly unique entry point proposition for the potential partner and his vision how to move the giant venture forward. We can only dream for such a partner as Barrick Gold for our Royalty holding at TNR Gold in addition to Rob's Midas touch, but maybe such dreams are not totally out of this world after all.  

Barrick Gold is already well presented in Argentina, they always put asset quality before any jurisdiction challenges and Argentina is willing to move forward with the development of mining projects according to the confirmation from the new President during the meeting with major mining operators in the country. Barrick already has Pascua Lama project in San Juan which is unfortunately located right on the border of Argentina and Chile and even strategic partnership with the Chinese company has been lined up in order to advance this kind of scale opportunities in the region. 

Here Los Azules is coming as a very attractive target both in size and location. McEwen Mining was awarded PAE - a special protocol signed by Argentina and Chile this summer - which allows cooperation between two countries in order to advance this project. Move with Los Azules can provide Barrick with the opportunity to secure the project at the very attractive cost of entry in JV with McEwen Mining and reshape its strategic presence in South America while Pascua Lama can still remain a very expensive landscape exercise with angry Chilean farmers living below it. 

Even if not all our dreams will come to materialisation with this Barrick Gold strategic announcement, Los Azules is getting on the radar screens of the major financial players and we have another very important confirmation of our strategy in building green energy metals royalty holdings for TNR Gold. As always, do your own research and you will have to pick up the winners. On the links below you can find a lot of information which can help you with your homework. 

Tesla Energy rEVolution And The Golden Age For Copper: Kirill Klip GEM Royalty TNR Gold Copper Presentation November 2019.

"Always do your own research - I do not honestly know how to prepare to that sad end. In all other potential cases, I can only point out to my personal experience of making the best investments by buying when "blood was almost literally on the streets" like with Tenke Mining starting my acquisitions at CAD 40 cents during the civil war in DRC and following Lukas Lundin with his motto: "politics will change, resources in the best projects will stay". Later, Lukas made a lot of investors of Tenke Mining very happy during his buy out by Lundin Mining at CAD$20 dollars. I have followed him and found TNR Gold many years ago - now we have Los Azules Copper NSR Royalty among our other assets and building The Green Energy Metals Royalty and Gold Company."

Please always read legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blog. Always consult a qualified financial adviser before any investment decisions. Do Your Own Research.

TNR Gold Los Azules Copper NSR Royalty Holding With McEwen Mining Presentation.

Red Metal Goes Green During Energy rEVolution: Growing EV Infrastructure To Drive Copper Demand For Decades Says Wood Mackenzie.


Barrick Gold chief eyes growth in ‘strategic’ copper

"Barrick Gold is looking for opportunities to grow its copper business through either exploration or acquisitions, according to its chief executive Mark Bristow. Copper is viewed as having the best fundamentals of any commodity, with demand tipped to rise over the medium term as the world shifts to cleaner energy just as supply is pressured by falling grades at ageing mines. As a result, most of the world’s big mining companies are trying to find ways to increase their exposure to the metal. “Where we have opportunities to secure or expand our copper footprint, we will,” Mr Bristow told the Financial Times in an interview. Hailing copper as a “strategic” metal, Mr Bristow said he was already looking at some exciting copper projects in South America but was also prepared to consider acquisitions. “It is more strategic than cobalt, more strategic than lithium. You can’t replace copper on conductivity. It is a modern metal,” he said. The added attraction of copper for Barrick is that it is often mined alongside gold in the Americas and shares common processing techniques. “It’s processing characteristics are identical to gold,” Mr Bristow said. “You can leach it, you can concentrate it, you can smelt it. It is a very uncomplicated process. It’s the same as gold and it comes with gold.” 

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