BRICS/Commodity Costs: Panama Restricts Access to Copper
Plus: JPM Data Weekly, SG Says Recession
They argue the contract is overly generous to the Canadian miner and the mine poses environmental risks. They demand the annulment of the contract and a ban on all new mining projects.
Plus:
JPM Data Weekly
SG: expects deayed recession as monetary policy effects kick in slowly.
GOLDFIX COMMENT: LATAM BRICIFICATION BEGINS
Emboldened by the East’s success (without US pushback) LATAM will now be more proactive. Protect resources, ring fence access, unlock actual value by getting out from under the usd. (Nationalization, monetization, and renegotiation of resources with US buyers)
In this particular instance, Panama is permitting economic and environmental protesters to prevent copper extraction from.
Prognosis: It will end either in no copper mined, or significant cost increases to the miner. Sivler , Gold and other mining contracts will ahve similar cost increases for multipl reasons including Union negotiations. As the West’s hold on LATAM countries decreases ( replaced by China’s investment), so will its negotating strength.
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