The miner posted a 10% sequential rise in second-quarter gold output, driven by higher throughput rates and increased mill capacity at its Cadia project.
2021 saw a surge in new electrodeposited copper foil manufacturing capacity – just one use leading to a 5-fold increase in copper demand from EVs over the next decade.
Prices of copper, considered to be an economic bellwether, rose by a quarter last year and are expected to continue their positive momentum in 2022 due to the metal's central role in the energy transition.
“The most likely outcome is an environment where commodity prices can settle from the extraordinary highs of 2021. But there are plenty of risks to this outlook," says Wood Mackenzie.