The only way i know it gets on the Earth's surface is from a gigantic asteroid strike every couple of hundred million years or so . I do not think i would like to place a bet on that probability scenario . You may also may be able to inform me how to stop the Earth's population from doubling by 2050, and why these extra individuals are not going to desperately require certain essential products made and transported by electricity from copper , like millions of metres of grid wiring .In any event what has fundamentally changed .
Copper is actually not that rare. I think the earth has got something like 5000 or 10000 years worth of copper left in the ground, based on current annual usage.
But even if we had 1% of that figure I don't think copper scarcity will be a problem, since copper is infinitely recyclable and we'll get to a point where a nation's existing circulting copper stock will be enough to meet most of its demand, through recycling, without having to mine large quantities of the metal.
More relevant to immediate future though, is the fact that current copper prices prouce a significant profit even for the high cost marginal producers. If history is any guide, these situations tend to be the exception, rather than the norm, for any commodity producer. So to be a copper bull you would have to be defying economic history, which seems like an odds against bet.
CDU Price at posting:
$1.87 Sentiment: None Disclosure: Not Held
