That is a 12% gain, Hotspring. Where is your ambition, your sense of adventure?
There is no substitute for Copper. For example, Euro car manufacturers obliged to shift entirely to producing EVs by 2030, must either buy copper at any price or go out of business. Their options are that binary.
The learned prognosticators forecast staggering demand for Cu, largely for electrical equipment, and even a quick survey of miners and forthcoming projects shows they got nuthin'.
While there is a level of substitutability and flexibility between battery metals, both Cu and Al stand out as unavoidably central to the electrical revolution.
https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions/mineral-requirements-for-clean-energy-transitions
If this is even half true, the recent rise in metals prices is merely the dawn of a brand new paradigm. A decade ago, Cu miners were exploiting 2-1.5% orebodies. Now, 0.5% is considered attractive.
https://tradingeconomics.com/commodity/copper
Do you think I am foreseeing 12% gains?
Ash
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