Finance

Copper Costs Turn Negative for Southern, Vale as Gold and Silver Byproducts Soar

For copper miners Southern Copper Corp. and Vale SA, surging prices of byproducts like gold and silver are creating an unusual situation: The cost of producing the red metal has turned negative.

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Bloomberg
May 1, 2026·1 min read
Copper Costs Turn Negative for Southern, Vale as Gold and Silver Byproducts Soar

Image: Bloomberg

For copper miners Southern Copper Corp. and Vale SA, surging prices of byproducts like gold and silver are creating an unusual situation: The cost of producing the red metal has turned negative.

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Copper Costs Turn Negative for Southern, Vale as Gold and Silver Byproducts Soar

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