$6 Copper Still Isn’t Enough to Spark New Mine Development | Aurora Davidson

Aurora Davidson, president and CEO of Amerigo Resources, says copper prices near $6 per pound still fall short of incentivizing large-scale new mine development, underscoring how tight the global supply picture remains. Speaking with Kitco Mining at the VRIC 2026, Davidson said, “it doesn’t offset the risks involved in developing new copper mines,” pointing to high capital costs, long timelines, and permitting challenges that continue to slow new supply.Davidson said tailings reprocessing stands out as one of the few practical, near-term ways to increase copper output, allowing producers to extract value from existing operations rather than build new mines from scratch. She explained that Amerigo delivers steady copper production by processing fresh and historic tailings from Codelco’s El Teniente mine, using scale and location to operate efficiently even in a capital-constrained industry.She also highlighted Chile’s permitting bottlenecks as a growing constraint on future copper supply, noting that delays have become a critical issue for the sector. For Amerigo, Davidson said the focus remains on meeting production guidance, protecting margins, and returning capital to shareholders as copper markets and investment conditions continue to evolve.Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.Special thanks to our sponsor, Discovery Silver. Visit https://discoverysilver.com/ to learn more about the company, its latest news, and investor materials.00:28 - Amerigo’s Tailings-Based Copper Business Model00:54 - MVC Operations and Long-Term Partnership in Chile04:03 - How Tailings Reprocessing Works at El Teniente05:43 - Copper Prices, Supply Constraints, and Tailings Opportunity10:07 - Capital Returns, Dividends, and Share Buybacks17:51 - Chile’s Permitting Challenges and Copper Outlook__________________________________________________________________Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.comStay connected with usX - https://x.com/KitcoMiningInstagram - https://www.instagram.com/kitcominingLinkedIn - https://www.linkedin.com/company/kitco-miningFacebook - https://www.facebook.com/KitcoMiningConnect with the Kitco Mining anchorsPaul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/miningDisclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.