Copper is attracting investor interest from the Middle East, noted Joe Mazumdar, editor of Exploration Insights.

On Thursday Mazumdar recorded Digging Deep with Kitco correspondent Paul Harris.

With copper prices hitting $5 pound recently, interest in the metal is spiking. However sizeable funding is coming a non-traditional player in the resource sector. Mazumdar noted Saudi Arabia has been investing heavily, noting the Kingdom's state mining company, Manara Minerals, is nearing a $1 billion deal for stake in Barrick’s Reko Diq.

Mazumdar and Harris also looked at Teck earnings. The company divested its metallurgical coal business. CEO of Teck is Jonathan Price.

"It did seem that Jonathan Price was trying to put a positive spin on the company, having sold...the best and most profitable part of its business," said Mazumdar, adding that the company wanted to have more exposures to copper and attract more interest from ESG investors.

The two also looked at gold. Despite high gold prices, major gold producers haven't seen significant margin expansion due to increased costs and lower grades. Mid-tier gold miners are outperforming majors in terms of margins, with some achieving sub $1,000/oz all-in sustaining costs.

Troilus Gold's feasibility study for its Quebec project was poorly received due to lower grades, increased throughput, and higher capital intensity. Osino Resources' acquisition by Yintai Gold marks a significant approval of Chinese investment in the Canadian mining sector.

Red Pine Exploration's assay manipulation scandal raises concerns about trust and chain of custody in the junior mining sector, and New Gold's buyback of cash flow interest in the New Afton mine from the Ontario Teachers' Pension Plan is a positive move, potentially making the company a more attractive takeover target.

Disclaimer: 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.