Freeport's Chief Executive Richard Adkerson told Reuters (and reported on Mineweb) that the shortage of skilled workers, including geologists, is going to be an issue as the global copper industry ramps up to meet growing demand. The Chile earthquake has further complicated the situation. At Antofagasta Minerals, half of the workers who went on leave to repair homes from quake damage never returned to work. [photo credit Asarco]
Copper hit a 20-month high on Tuesday passing $8,000 per tonne, still below its record $8940 price in 2008, but on a trend towards that again. Analysts are projecting a balanced market in 2010 but a serious production shortage in 2011.