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Capital allocation and project efficiency remain key issues in the copper sector. A recent tweet from Robert Friedland draws attention to analysis by Bank of America on the capital intensity involved in building new copper projects globally. According to Friedland, projects like the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo stand out, with its first three phases delivered both on budget and ahead of schedule. Friedland contrasts this performance with less favorable outcomes for projects with higher capital requirements, highlighting the importance of capital discipline in today’s resource development climate.
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Friedland has previously noted that copper inventories in China fell by 17 percent as global supply tightened. Earlier this year, he pointed to increasing demand for minerals driven by extraordinary global conditions. These developments have heightened attention on efficient capital allocation in the copper sector.