The price of copper, one of the essential metals for the energy transition, this Friday surpassed the level of 10,000 dollars per ton on the London market, a maximum in two years.
The appreciation, which has been registered since the beginning of the year, coincides with the offer that the Australian mining company BHP Billiton, one of the largest in the world, presented to buy its British competitor Anglo American.
The offer was rejected by Anglo American, on the grounds that its price underestimates the value of the company.
Banca March analysts, cited by Efe, state that the growing demand for copper is one of the reasons that led BHP to present the offer, since Anglo American has mines in countries such as Chile, South Africa, Brazil and Australia.
In his opinion, if the deal goes through, the purchase “would give BHP access to more copper, one of the most sought after metals in the transition to clean energy”.
In a recent report, Plenisfer Investments, which is part of the Generali Investments investment ecosystem, highlights that investment in real assets should focus on “raw materials essential for the energy transition, such as copper or uranium”.
Plenisfer Investments emphasizes that these raw materials are characterized by a “limited supply and growing demand”.
The energy transition implies an increase in the weight of electricity in the economy and, consequently, the expansion of transport networks.
Copper will play an important role in this process because it is one of the best conductors of electricity.
