Investors Love Copper But Not The Cost of Building a New Mine
- KAZ Minerals chairman takes company private for Russia project
- Mine developments are often out of sync with investor horizons
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As copper bulls pushed prices to the highest in almost a decade, the end of a six-month corporate spat showed that some investors were still reluctant to back a long-term bet on the metal.
The chairman of KAZ Minerals Plc finally completed a six-month battle to take the company private on Monday, drawing to a close a 15-year stint as one of the biggest London-listed copper producers. While the world’s top miners are universally bullish on copper as the electric-vehicle revolution promises to expand demand, the investment horizons of shareholders don’t always stretch to developing a new mine.