Worldwide copper prices could remain high for the next two to three years, said Diego Hernández, president, Chilean National Mining Society (Sonami).

 

Hernández considered that the growing demand generated by the electric vehicle market and the boom in renewable energies will help to keep the upward trend in the prices of the red metal.

 

However, he warned that it is necessary to avoid considering this phenomenon as a “supercycle”. Hernández has also hinted at caution regarding the future behavior of copper prices, which is currently trading at $4.26/lb on the London Metal Exchange.

 

The head of Sonami also maintained his rejection of the bill that seeks to increase the mining royalty, as he considered it would affect the investments of the local industry.

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