Morning Bites

⛏️The development of Udokan, the world’s third largest copper mine, is 95% complete. The project had been delayed from the initial plan of 2022 and is now to be launched in 3Q23, in line with the latest plan. The Udokan field is expected to bring 0.6% of global copper output in the first production stage, with a potential expansion to 1.6%. The mine accounts for ~3.1% of global copper reserves, grading 1.05%. We do not expect any effect on the market when the mine opens, at least at the first stage, since the project is well-known and is likely already priced in

#copper
https://metals-wire.com/sector/Copper