Citigroup turns bullish on copper, saying it expects the metal to rally by 10% over the next 3-6 months on expectations of a U.S. trade deal with China and increasing confidence in a global economic recovery.
Citi’s forecast follows a 15% drop in the price of copper over the past year to $6,116/metric ton, driven by a slowdown in China’s economy, but the firm sees copper prices hitting $6,700/ton in 2019.
Georgian Mining Corporation (LON:GEO) has 50% ownership of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines.