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

Kitco Media
By Michael McCrae
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Kitco News - 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. 

 

Kitco Media

Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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