Booming on base

5 December 2022 09:15

As China moves to relight its property market, prices of the metals tied to the world’s largest consumer have risen in sync.

Spot prices for copper, lead, aluminum, zinc and nickel have all risen significantly over the past month after China revealed it would take drastic steps to rescue its property sector after COVID restrictions and lending crackdowns ground it to a halt.

Deutsche Bank have followed Bank of America and Morgan Stanley in bringing aboard a base metals trader after global unrest Federal Reserve interest rate rises brought heavy swings to metals markets, with copper and aluminium both hitting record highs.

While the search for battery metals sweeps exploration, all of the ten most valuable mines in the world produce base metals as a primary output and the hunt for in-vogue minerals should not distract investors from companies moving on the next big base metal discovery.

These are some of the explorers looking to boom on base metals.

Coda Minerals (ASX: COD)

Located in the same Olympic Dam copper province host to both BHP and OZ minerals, Coda has its Elizabeth Creek copper-cobalt scoping study on track for delivery, while a full set of results from its 2800 metre campaign over Cameron River, focused on hydrothermal copper-gold deposits, are all set to come in before year’s end.

Dalaroo Metals (ASX: DAL)

Building up the base at Lyons River, Dalaroo have struck into multiple lead-zinc sulphide intersections from maiden drilling at the Browns prospect, one of six geochemical prospects at its Lyons River project in the Gascoyne, showing significant lead and zinc in a new Broken Hill Type/SEDEX style prospect.

DMC Mining (ASX: DMM)

With historic copper validated at its Gibb River project and nickel territory across both Ravensthorpe and a critically expanded Fraser Range project, DMC have a stream of results set to come in soon from across its trio.

Kavango Resources (LSE: KAV)

Kavango have launched its 37,600-metre maiden campaign in the Kalahari Copper Belt after thorough exploration built up 14 priority targets, making it a third project drilled in the calendar year while it continues to make breakthroughs in exploration.

QMines (ASX: QML)

QMines have continued to raise its Mt Chalmers metal, bringing in its third and fourth resource upgrades while adding several new targets to its Queensland copper-gold flagship, and are all set to deliver a fifth upgrade next year.


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