Morning Bites (part 1)

🇨🇱Chile’s copper production was up 2% YoY in October (vs. -4% YoY in September), breaking the 15-month series of consecutive YoY declines. The recent slowdown was likely due to the continuing drought, as well some grade depletion and the lower refining rate, although the latter improved last month. On our numbers, Chile accounts for ~27% of global mined copper supply

☢️A three-year extension has been agreed to the UK's Hinkley Point C contract, the government's counterparty in the contract reports. Hence, the 'long-stop date' is now November 2036, but the plant's start-up schedule has not been changed. This extension reflects the work required to understand the impacts of COVID-19, as well as the outcome of negotiations with CGN on the Sizewell C nuclear project. Therefore, the news underpins our concern that British nuclear plans are probably too upbeat, with the final costs likely to be higher and the timeline longer

#copper #uranium
https://metals-wire.com:3000/news-reports