Experts say copper prices to remain high for next two years

{mosimage}Market observers believe Mongolian copper prices will remain high for at least the next two years. One of the main reasons given for the continuing high prices are delays to planned mining projects caused by increasing percentages of revenues being funneled off by governments in Mongolia and Africa.

Market observers believe Mongolian copper prices will remain high for at least the next two years.

One of the main reasons given for the continuing high prices are delays to planned mining projects caused by increasing percentages of revenues being funneled off by governments in Mongolia and Africa.

On the London Metal Exchange copper prices closed last week at a new record high of $8,880 a ton after workers stopped production due to a labor dispute at Codelco in Chile, the world's largest copper supplier.

Prices are also remaining high because huge projects, such as Mongolia’s Oyu Tolgoi copper-gold project, is now expected to be at least one year behind schedule due to the Mongolian government’s renegotiating its mining agreement with Ivanhoe Mines Ltd. and Rio Tinto Ltd.

mongolia-web.com