Copper Outlook Still Strong on Supply Crunch, OZ Minerals Says
A supply crunch and growing demand will keep copper on track for longer-term gains despite a trade war and emerging market tensions that are roiling prices, according to Australian producer OZ Minerals Ltd. “We’re seeing some short-term volatility, but I’m still confident on the longer-term outlook,” Chief Executive Officer Andrew Cole said in a Bloomberg Television interview. OZ Minerals is constructing a second Australian mine, and in March agreed to pay A$418 million for Avanco Resources Ltd. to add an operation in Brazil and a suite of development projects.