In the good old days Copper ... aka Dr Copper ... a very much watched indicator of economic growth ... industrial growth. The Tech Titans (Google, Amazon, etc.) changed that somewhat.
I search for an article that put copper/economic growth/history all together ... surprisingly found this very recent one
https://fnarena.com/index.php/2024/06/06/listen-to-what-dr-copper-has-to-say/#:~:text=In%20the%20good%20ol'%20days,to%20be%20merely%20mildly%20accurate.
Net Net if recession is avoided (particularly in the USA) and growth returns to China (by state decree) then Copper is likely to make large gains again. Copper is a commodity not a stock. Copper underpins industrial growth ... think about the amount of copper in electric motors and by extension EVs .... about 3X times copper as compared to ICE cars.
https://copper.com.au/news/general/smart-electric-cars-drive-copper/#:~:text=A%20typical%20vehicle%20with%20a,in%20batteries)%20and%20power%20cables.
That PAM took the option to go and look at that copper prospect in Chile is I think reasonable.
