We consume half of all output of copper but produce only 20 to 25% of what we actually use,вЂќ said Huang.

вЂњWe see copper as a highly strategic metal for China, we are the largest consumer in the world. Gold Mountains General Manager, Maggie Huang said sourcing and developing copper mines was critical to not only gold mountains, but to the Chinese economy. Companies from AustraliaвЂ™s biggest trading partner are digging for strategic commodities to enhance diversification and survival in an uncertain marketplace. ChinaвЂ™s quiet copper rushД¬opper was the metal of the hour during the China Commodities Supply and Demand Outlook 2022 Panel at Mines and Money. вЂњEveryone is talking about bringing more capacity to the US, which we desperately need, and even if we all succeed, we are still going to be short, and require lots of material from outside the US,вЂќ said Philips. вЂњTesla has been a leader here, but LG and General Motors are making big commitments. Phillips said FordвЂ™s Blue Oval City required 125 000 tpy of lithium hydroxide to service its three battery plants, which surpasses the production capacities of all lithium projects currently planned in the US. вЂњIвЂ™ve always had the view that the market would speak, and the time would come, and it will,вЂќ said Phillips. Prices topped US$23 375 per tonne at the time of writing, which is up from a US$6 300 average per tonne in the September quarter 2020.Дuring the Mines and Money Battery Metals Session, Piedmont Lithium President and Chief Executive Officer, Keith Phillips, said the EVs market is fuelling the demand for lithium hydroxide. The price of lithium hydroxide continued to soar in 2021 and shows no sign of slowing down in 2022. The rising demand for EVs, which is expected to surge to 10% in global sales by 2025 according to Bloomberg New Energy Finance, will require startling quantities of lithium. The US has the need for speed with car manufacturing adopting electric vehicles (EVs) at an accelerating rate. вЂњA doubling of the gold price within 12 months is easily possible,вЂќ said Middelkoop. If you look at that statistic, there is so much upside,вЂќ said Middelkoop. вЂњIf you look at the current graph, the gold price needs to move back toward over US$2000, and it should move toward US$8000 вЂ“ US$10 000 dollars to be in line with money growth. Through the Commodity Discovery Find, Middelkoop has studied the gold price in relation to increased money supply over the past decade. In 2022, panellists expect plenty of market volatility and money printing, with an overinflated US dollar set to weaken in value, and subsequently drive up the price of gold. Historically, gold price is linked to market volatility and the much of new money printed in the US. The panellists suggested that with the gold price soaring to record highs, a gold correction was inevitable.

Middelkoop spruiked goldвЂ™s glittering upside during the Mines and Money Gold Outlook Panel Discussion.

вЂFrustratingвЂ™ sums up the 2021 gold price according to Commodity Discovery Fund Founder and Chief Investment Officer, Willem Middelkoop. Mines and Money Online Connect saw 90 mining companies, 600+ investors, and more than 2000 participants log-on to hear mining executives and analysts discuss the next big thing for savvy investors in 2022. It was gold price, lithium demand, and ChinaвЂ™s appetite for copper that dominated much of the discussion at the Mines and Money Online Connect IMARC virtual event, running from 19 вЂ“ 21 October.

Willem middelkoop