The Globe and Mail reports in its Saturday edition that copper miners remain bullish on the metal's future prospects even as a looming 50-per-cent U.S. tariff creates short-term price volatility, Barrick chief executive officer Mark Bristow said in Zambia, where the company is expanding its operations. A Reuters dispatch to The Globe says that U.S. President Donald Trump plans to impose the new copper tariff from Aug. 1 to promote domestic development of an industry critical to defence, electronics and automobiles. The announcement propelled U.S. Comex copper futures to an all-time high, but analysts predict prices outside the U.S. could be dragged down as countries like Chile, the world's top copper producer and the United States' biggest supplier, shift supplies elsewhere in response to the tariffs. "The copper price is going to be unstable just like everything else in the world, and we will have to get out of this instability," Mr. Bristow told journalists in Zambia's capital, Lusaka, late Thursday. However, he said that, despite the fallout from U.S. tariff policy decisions, copper's long-term trajectory remained unchanged. "Everyone is in agreement that the copper demand is outgrowing the supply side," he said.
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