Geomechanics.io

  • Free Tools
Sign UpLog In

Geomechanics.io

Geomechanics, Streamlined.

© 2026 Geomechanics.io. All rights reserved.

Geomechanics.io

CMRR-ioGEODB-ioHYDROGEO-ioQCDB-ioFree Tools & CalculatorsBlogLatest Industry News

Industries

MiningConstructionTunnelling

Company

Terms of UsePrivacy PolicyLinkedIn
    Projects

    Goldman on copper above $11,000/t: price path and project signals for engineers

    December 5, 2025|

    Reviewed by Joe Ashwell

    Goldman on copper above $11,000/t: price path and project signals for engineers

    First reported on MINING.com

    30 Second Briefing

    Copper’s surge above $11,000/t on the LME, including a record $11,540/t print, is unlikely to persist, with Goldman Sachs analysts led by Aurelia Waltham projecting 2025 prices constrained to a $10,000–$11,000/t range and a modest 2026 surplus of about 160,000 t. The bank sees no structural global shortage before at least 2029, noting 2025 demand remains roughly 500,000 t below supply and warning that Chinese consumption could fall nearly 8% year-on-year in Q4. Mercuria’s Kostas Bintas, by contrast, flags “extreme” market dislocations from US-bound flows that could leave non-US markets short of copper cathodes.

    Technical Brief

    • Copper briefly printed a record $11,540/t on the London Metal Exchange before analyst pushback.
    • Goldman attributes the rally to expectations of future tightness, not current physical fundamentals.
    • Mercuria reports “ongoing US-bound flows” are draining cathode availability in China and other regions.
    • Kostas Bintas warns non‑US markets could “be left without copper cathodes” under current trade flows.
    • Goldman flags “critically low” inventories outside the US but expects relief via higher regional premiums.
    • Tighter LME spreads are cited as a mechanism to redirect metal towards deficit regions without true shortage.
    • Disruptions at major copper mines through 2025 have constrained supply even as overall demand growth softens.

    Our Take

    Copper is one of the most heavily covered commodities in our mining database, and price calls like Goldman Sachs Group’s tend to feed directly into deferral or redesign decisions on marginal copper projects tagged under 'Projects', especially in the US and Latin America.

    A forecast 8% year-on-year slump in Chinese copper consumption in Q4 implies that developers in Europe and the United States may lean harder on non-Chinese demand drivers (grid upgrades, data centres, defence) when justifying new copper capacity to financiers.

    The presence of antimony alongside copper and gold in this piece aligns with a small cluster of critical-mineral stories in our coverage, signalling that traders such as Mercuria Energy Group are increasingly framing base-metal outlooks together with strategic minor metals rather than in isolation.

    Geotechnical Software for Modern Teams

    Centralise site data, logs, and lab results with GEODB-io, CMRR-io, and HYDROGEO-io.

    No credit card required.

    • Save and export unlimited calculations
    • Advanced data visualisation
    • Generate professional PDF reports
    • Cloud storage for all your projects

    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

    Related Articles

    Mining
    35 minutes ago

    CITIC HIC semi-mobile crusher at Duobaoshan: design and throughput notes for mine planners

    A PSZ3000-B semi-mobile gyratory crushing station, independently designed and built by CITIC Heavy Industries in Luoyang, has completed no-load and load commissioning at Zijin Mining’s Phase II expansion of the Duobaoshan copper-molybdenum mine in Heilongjiang, with all performance indicators meeting design standards. The semi-mobile unit is configured as a primary crusher station for the expanded open pit, allowing truck-fed in-pit crushing with conveyor transfer to downstream processing. For mine planners and plant engineers, the successful commissioning confirms Chinese-built large semi-mobile gyratory technology as a viable option for high-throughput greenfield and brownfield expansions.

    Mining
    35 minutes ago

    LEEA GLAD procurement survey: compliance and lifecycle insights for mine teams

    LEEA has launched a procurement-focused survey to feed into a new white paper scheduled for release on Global Lifting Awareness Day (GLAD) on 2 July 2026, with details hosted on the updated campaign site globalliftingawarenessday.com. Targeted at stakeholders who specify or purchase cranes, hoists, slings and other lifting accessories, the initiative centres on the theme “Not all lifting equipment is…”, aiming to capture how compliance, whole‑life cost and inspection regimes are currently weighted in buying decisions. Mining owners, EPCMs and contractors can use the findings to benchmark procurement practices against industry expectations and tightening safety standards.

    Mining
    35 minutes ago

    Hitachi EH5000 100,000‑hour milestone at Lumwana: capex and fleet life notes for planners

    Three 296 t class Hitachi EH5000 rigid dump trucks at Barrick’s Lumwana copper mine in Zambia have each passed 100,000 operating hours, an unusually high lifecycle for ultra-class haulage equipment in hard-rock copper operations. The milestone, marked at a joint Barrick–Hitachi recognition ceremony, points to effective component rebuild strategies, condition-based maintenance and strong dealer support for the EH5000 fleet. For mine planners and maintenance teams, it signals potential to extend truck life beyond typical replacement cycles, with implications for capex timing and fleet renewal strategies.

    Related Industries & Products

    Mining

    Geotechnical software solutions for mining operations including CMRR analysis, hydrogeological testing, and data management.

    CMRR-io

    Streamline coal mine roof stability assessments with our cloud-based CMRR software featuring automated calculations, multi-scenario analysis, and collaborative workflows.

    HYDROGEO-io

    Comprehensive hydrogeological testing platform for managing, analysing, and reporting on packer tests, lugeon values, and hydraulic conductivity assessments.

    GEODB-io

    Centralised geotechnical data management solution for storing, accessing, and analysing all your site investigation and material testing data.

    AllGeotechnicalMiningInfrastructureMaterialsHazardsEnvironmentalSoftwarePolicy