New Delh: Global copper supply faces a long-term structural constraint as declining discoveries, falling ore grades and rising development costs make new mines increasingly difficult to build, according to a report by Goldman Sachs Research, which expects the market to place greater value on existing producers and projects capable of adding future supply.
The report said the median copper mine now takes more than 16 years from discovery to first production. With output from existing mines expected to begin declining from 2030, higher prices alone may not bring significant additional supply within a typical investment horizon.
