Would have to disagree...Copper Can Go Up 10 Times, Warns Billionaire Mine-Owner
- Billionaire miner Robert Friedland: the mining industry is failing to increase supply ahead of 'accelerating demand.'
- Friedland: copper markets are heading for a train wreck.
- Friedland: the market has yet to realize the significance of copper and how it is essential to decarbonization efforts.
We have all seen news headlines for lithium, cobalt, nickel, and other rare-earth metals needed for electric vehicle batteries and the entire electricity infrastructure. The Biden administration has announced a series of moves to secure America's 'supply chain for critical minerals.' Rarely discussed, however, is copper, one essential metal at the heart of the energy transition.
In an interview on Monday, billionaire mining investor Robert Friedland told Bloomberg TV that the mining industry is failing to increase supply ahead of 'accelerating demand.' He said deposits are getting more expensive and harder to find, funding is limited, and economies have to prepare for the importance of the mining industry to lead the energy transition.
"We're heading for a train wreck here," Friedland said at Bloomberg's New York headquarters.
He's the founder of Ivanhoe Mines Ltd. and warned: "My fear is that when push finally comes to shove," copper prices might explode ten times.
SOURCE
OILPRICE DOT COM
Would have to disagree...Copper Can Go Up 10 Times, Warns...
Add AW1 (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
12.5¢ |
Change
-0.005(3.85%) |
Mkt cap ! $64.71M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 13.0¢ | 12.5¢ | $141.6K | 1.096M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 651789 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 518633 | 6 |
View Market Depth
| Last trade - 15.32pm 02/09/2024 (20 minute delay) ? |
| AW1 (ASX) Chart |