• Copper pops and Lithium America closes $2.2 billion financing from the US government

  • Mar 16 2024
  • Length: 3 mins
  • Podcast

Copper pops and Lithium America closes $2.2 billion financing from the US government cover art

Copper pops and Lithium America closes $2.2 billion financing from the US government

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  • Summary

  • Copper gained nearly 6% this week to trade above $4 pound, noted mining audiences manager Michael McCrae.

    On Saturday McCrae recorded Kitco Roundtable.

    Copper got a boost with news that potentially less metal will be available. According to Reuters, China announced that it was cutting production at some loss-making copper smelters. Copper bulls see years of low prices along with diminishing production as a good sign for the metal when the energy transition theme fully kicks in.

    The lithium sector looked bullish with big financings announced. Lithium Americas received a record $2.2 billion loan from the US Department of Energy (DOE) to finance the construction of processing facilities at Thacker Pass in Nevada. Liontown Resources (ASX:LTER) announced this week a A$550 million debt facility to fund the company's Kathleen Valley lithium project through first production and ramp-up to the 3Mtpa base case.

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