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More millionaires will be made in mining and commodities over the next 5 years than in AI. I know that sounds wild. Hear me out. AI runs on copper, nickel, lithium, uranium. Every datacenter, every robot, every EV. The catch: we haven't sanctioned a major copper mine in over... show more

Terry Lynch

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229,787 views • 2 months ago •via X (Twitter)

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Mining will create more millionaires than AI over the next decade. Yet everyone is chasing chips and software. Here's why the real money is in what powers all of it: The world is obsessed with AI. Every portfolio, every headline, every allocation decision points in the same direction. But here's what most investors are missing. AI runs on infrastructure. Infrastructure runs on metals. Copper, nickel, palladium, platinum. The physical materials that make electrification, data centres, and energy grids possible. Supply is constrained. From discovery to production, the average mine takes around 18 years. And demand is growing faster than at any point in the last 30 years. This is the setup for a commodity supercycle. And historically, supercycles are where generational wealth gets built in the resource sector. Power Metallic sits at the centre of this thesis. A zoned polymetallic system with copper, nickel, and PGEs. Only a handful of comparable systems exist on the planet. Well funded with C$50 million raised and 100,000 metres of drilling through 2026. While everyone fights over the next AI stock, the real asymmetric opportunity might be sitting underground in Quebec. Full conversation: $PNPN $PNPNF

Mining will create more millionaires than AI over the next decade. Yet everyone is chasing chips and software. Here's why the real money is in what powers all of it: The world is obsessed with AI. Every portfolio, every headline, every allocation decision points in the same direction. But here's what most investors are missing. AI runs on infrastructure. Infrastructure runs on metals. Copper, nickel, palladium, platinum. The physical materials that make electrification, data centres, and energy grids possible. Supply is constrained. From discovery to production, the average mine takes around 18 years. And demand is growing faster than at any point in the last 30 years. This is the setup for a commodity supercycle. And historically, supercycles are where generational wealth gets built in the resource sector. Power Metallic sits at the centre of this thesis. A zoned polymetallic system with copper, nickel, and PGEs. Only a handful of comparable systems exist on the planet. Well funded with C$50 million raised and 100,000 metres of drilling through 2026. While everyone fights over the next AI stock, the real asymmetric opportunity might be sitting underground in Quebec. Full conversation: $PNPN $PNPNF

Terry Lynch

35,775 views • 2 months ago

Mining investing billionaire, Frank Giustra: "That is going to take us putting 6 large tier 1 copper deposits into production every year until 2050, to just maintain the baseline demand at 3% gdp growth. That's without the data centres... " We haven't even put 6 large tier 1 copper deposits into production in the last 5 years, let alone every year for the next 24 years.

Mining investing billionaire, Frank Giustra: "That is going to take us putting 6 large tier 1 copper deposits into production every year until 2050, to just maintain the baseline demand at 3% gdp growth. That's without the data centres... " We haven't even put 6 large tier 1 copper deposits into production in the last 5 years, let alone every year for the next 24 years.

TheGladiator

30,698 views • 5 months ago

While gold dominates the headlines, our largest shareholder, Frank Giustra, believes one of the biggest investment opportunities may be unfolding in copper. After 45 years financing and building mining companies, Frank argues the world is facing a structural copper supply deficit. In his latest interview with Kitco NEWS, Frank discusses: - Why copper demand continues to accelerate - The supply gap the market still isn’t pricing in - How AI and data centres are becoming major copper consumers - The long-term implications for copper producers and developers - Why critical minerals are becoming increasingly strategic For investors focused on the next major commodity cycle, this is an interview worth watching: $CGNT.V $LBCMF

While gold dominates the headlines, our largest shareholder, Frank Giustra, believes one of the biggest investment opportunities may be unfolding in copper. After 45 years financing and building mining companies, Frank argues the world is facing a structural copper supply deficit. In his latest interview with Kitco NEWS, Frank discusses: - Why copper demand continues to accelerate - The supply gap the market still isn’t pricing in - How AI and data centres are becoming major copper consumers - The long-term implications for copper producers and developers - Why critical minerals are becoming increasingly strategic For investors focused on the next major commodity cycle, this is an interview worth watching: $CGNT.V $LBCMF

Copper Giant

13,112 views • 1 month ago

Stan Druckenmiller: You don’t have to be a genius to be long copper. - There is no meaningful supply coming online in the next 8 years. - AI and data centers are adding demand. - Not long copper equities, but futures. Being long copper just makes sense.

Stan Druckenmiller: You don’t have to be a genius to be long copper. - There is no meaningful supply coming online in the next 8 years. - AI and data centers are adding demand. - Not long copper equities, but futures. Being long copper just makes sense.

Lukas Ekwueme

250,618 views • 5 months ago

Robert Friedland: If you think we have enough copper you’re dreaming - In human history, we have mined ~700 Mt of copper - In the next 18 yrs, we need to mine the same amount as in the last 10k yrs - And that’s without factoring in renewables, data centers or wars We have all these fancy ideas: renewables, data centers, and EVs… just electrify everything and assume copper will be available. The reality? We haven’t invested in copper for >10 years, meanwhile it is getting harder and harder to find and mine copper. - Since 1900, energy required to produce copper is up 16x - Water consumption is up 2x - Mines are deeper and smaller - Grades are declining We now need more resources to produce the same amount of copper. - 6 Tier-1 copper mines must come online every year for the next 24 yrs - The last major copper mine came online in 2021 - Major copper discoveries are down ~80% over the past 2 decades That’s a long way of saying copper prices must rise to incentivize new production.

Robert Friedland: If you think we have enough copper you’re dreaming - In human history, we have mined ~700 Mt of copper - In the next 18 yrs, we need to mine the same amount as in the last 10k yrs - And that’s without factoring in renewables, data centers or wars We have all these fancy ideas: renewables, data centers, and EVs… just electrify everything and assume copper will be available. The reality? We haven’t invested in copper for >10 years, meanwhile it is getting harder and harder to find and mine copper. - Since 1900, energy required to produce copper is up 16x - Water consumption is up 2x - Mines are deeper and smaller - Grades are declining We now need more resources to produce the same amount of copper. - 6 Tier-1 copper mines must come online every year for the next 24 yrs - The last major copper mine came online in 2021 - Major copper discoveries are down ~80% over the past 2 decades That’s a long way of saying copper prices must rise to incentivize new production.

Lukas Ekwueme

104,697 views • 3 months ago

Rick Rule: There is nothing we can do to prevent copper prices to rise over the next five years. - The industry needs to invest ~$250B just to maintain current production. - Current production is already failing to meet demand. - The industry is investing only ~$150B. In other words, the copper industry isn't even investing enough to maintain today's supply... while demand continues to grow 2–3% annually. It's projected that by 2040: - the world needs an additional 14Mt of annual copper supply - ~50% more than today’s output - projected deficits alone approach ~10Mt To put that into perspective: - Humanity has mined ~700 Mt of copper in total history - Over the next 14 years, we must mine ~525Mt more - That's equivalent of adding 10 of the world biggest copper mine Higher copper prices are a mathematical certainty If you enjoyed this post, follow me for more.

Rick Rule: There is nothing we can do to prevent copper prices to rise over the next five years. - The industry needs to invest ~$250B just to maintain current production. - Current production is already failing to meet demand. - The industry is investing only ~$150B. In other words, the copper industry isn't even investing enough to maintain today's supply... while demand continues to grow 2–3% annually. It's projected that by 2040: - the world needs an additional 14Mt of annual copper supply - ~50% more than today’s output - projected deficits alone approach ~10Mt To put that into perspective: - Humanity has mined ~700 Mt of copper in total history - Over the next 14 years, we must mine ~525Mt more - That's equivalent of adding 10 of the world biggest copper mine Higher copper prices are a mathematical certainty If you enjoyed this post, follow me for more.

Lukas Ekwueme

43,263 views • 1 month ago

Re "is AI slowing down" - For sure the edge has been taken off the AGI-by-2027 predictions... but claims that progress is stalling also seem pretty off to me. I continue to expect AI will get a lot better over the next 5-15 years, and that will be a wild ride. More:

Re "is AI slowing down" - For sure the edge has been taken off the AGI-by-2027 predictions... but claims that progress is stalling also seem pretty off to me. I continue to expect AI will get a lot better over the next 5-15 years, and that will be a wild ride. More:

Helen Toner

54,458 views • 10 months ago

This company just took news headlines by storm - Jacob Amsterdam just joined its Advisory Board. WHY? Copper recently traded above $14,000 per ton, near historic highs, as demand from AI infrastructure continues accelerating. Just one electric vehicle can use more than 80 kilograms of copper. Some estimates suggest a single large-scale AI data center can require up to 50,000 tons of copper across power systems, transformers, cooling infrastructure, wiring, and grid connections. AI data centers, robots, military systems, renewable energy, and EV production are all increasing global copper demand at the same time. Entire countries are upgrading electrical infrastructure simultaneously. And while demand rises, new copper mines can take more than a decade to develop. That is where NovaRed Mining enters the story. Its Wilmac Copper-Gold Project spans nearly three times the size of Manhattan across prospective copper-gold terrain in British Columbia. As the global race for copper intensifies, companies connected to future copper supply are attracting increasing investor attention. Always do your own research. This is not financial advice.

This company just took news headlines by storm - Jacob Amsterdam just joined its Advisory Board. WHY? Copper recently traded above $14,000 per ton, near historic highs, as demand from AI infrastructure continues accelerating. Just one electric vehicle can use more than 80 kilograms of copper. Some estimates suggest a single large-scale AI data center can require up to 50,000 tons of copper across power systems, transformers, cooling infrastructure, wiring, and grid connections. AI data centers, robots, military systems, renewable energy, and EV production are all increasing global copper demand at the same time. Entire countries are upgrading electrical infrastructure simultaneously. And while demand rises, new copper mines can take more than a decade to develop. That is where NovaRed Mining enters the story. Its Wilmac Copper-Gold Project spans nearly three times the size of Manhattan across prospective copper-gold terrain in British Columbia. As the global race for copper intensifies, companies connected to future copper supply are attracting increasing investor attention. Always do your own research. This is not financial advice.

Victor Renard

68,644,660 views • 2 months ago

Robert Friedland on the masive copper shortage to meet future grid, clean energy and AI demand: “We’re consuming 30m tonnes of copper a year. Only 4m tonnes of which is recycled. That means to maintain 3% GDP growth — with no [further] electrification — we have to mine the same amount of copper in the next 18 years as we mined in the last 10,000 years, combined. In the next 18 years, I’ve got to mine the same amount of copper as we mined the last 10,000 years. [This is without any new] electrification, without data centers, without solar and wind and the greening of the world economy. You people have no idea whatsoever what we’re facing.”

Robert Friedland on the masive copper shortage to meet future grid, clean energy and AI demand: “We’re consuming 30m tonnes of copper a year. Only 4m tonnes of which is recycled. That means to maintain 3% GDP growth — with no [further] electrification — we have to mine the same amount of copper in the next 18 years as we mined in the last 10,000 years, combined. In the next 18 years, I’ve got to mine the same amount of copper as we mined the last 10,000 years. [This is without any new] electrification, without data centers, without solar and wind and the greening of the world economy. You people have no idea whatsoever what we’re facing.”

Trung Phan

1,027,710 views • 6 months ago

CEO & CTO of Impulse Space Impulse Space Tom Mueller Tom Mueller says the Moon is "more important than Mars" in the near term: "Jared Isaacman said we're going to build a base on the Moon and stay there." "People are predicting we'll run out of copper in the next few years. Data centers require so much copper." "We need to start getting copper from the Moon or from the asteroids. There's an almost infinite supply in our solar system of material—enough to supply us for thousands of years." "We just gotta get ready to go get it."

CEO & CTO of Impulse Space Impulse Space Tom Mueller Tom Mueller says the Moon is "more important than Mars" in the near term: "Jared Isaacman said we're going to build a base on the Moon and stay there." "People are predicting we'll run out of copper in the next few years. Data centers require so much copper." "We need to start getting copper from the Moon or from the asteroids. There's an almost infinite supply in our solar system of material—enough to supply us for thousands of years." "We just gotta get ready to go get it."

Molly O’Shea

40,572 views • 2 months ago

With global nickel demand surging, now is the moment for Canada to build on over 140 years of nickel-mining legacy in Northern Ontario — and bring greater reliability and sustainability to the global commodities market for our allies. That’s why the Crawford Nickel Project is now with the Major Projects Office: to move faster, get shovels in the ground sooner, unlock jobs and Indigenous equity opportunities, and raise the bar for clean, responsible mining. This is how we build Canada strong — not by cutting corners, but by ensuring the way we develop our resources reflects what makes us proud to be Canadian 🇨🇦

With global nickel demand surging, now is the moment for Canada to build on over 140 years of nickel-mining legacy in Northern Ontario — and bring greater reliability and sustainability to the global commodities market for our allies. That’s why the Crawford Nickel Project is now with the Major Projects Office: to move faster, get shovels in the ground sooner, unlock jobs and Indigenous equity opportunities, and raise the bar for clean, responsible mining. This is how we build Canada strong — not by cutting corners, but by ensuring the way we develop our resources reflects what makes us proud to be Canadian 🇨🇦

Tim Hodgson

14,006 views • 9 months ago

Tech is moving beyond chips. A record-scale offering just showed how much capital is chasing the tech buildout. For traders, the next question is simple: Where does capital rotate next? Critical materials for fast development! The common thread is copper. AI needs compute. Compute needs power. Power needs copper. Space needs copper! That makes upstream copper exposure a serious watchlist theme. NovaRed Mining Inc. NRED offers exposure to copper-gold exploration tied to the AI infrastructure cycle. Its Wilmac Project in British Columbia spans approximately 39,700 acres, nearly three times the size of Manhattan. NovaRed is also developing MetalCore, an AI-driven exploration platform designed to improve target ranking and exploration decisions. The setup: AI capex accelerating. Copper demand rising. New discoveries scarce. Exploration names can move fast. Add NovaRed Mining to your watchlist. The AI era will not be built in the cloud alone. It starts in the ground. DYOR !

Tech is moving beyond chips. A record-scale offering just showed how much capital is chasing the tech buildout. For traders, the next question is simple: Where does capital rotate next? Critical materials for fast development! The common thread is copper. AI needs compute. Compute needs power. Power needs copper. Space needs copper! That makes upstream copper exposure a serious watchlist theme. NovaRed Mining Inc. NRED offers exposure to copper-gold exploration tied to the AI infrastructure cycle. Its Wilmac Project in British Columbia spans approximately 39,700 acres, nearly three times the size of Manhattan. NovaRed is also developing MetalCore, an AI-driven exploration platform designed to improve target ranking and exploration decisions. The setup: AI capex accelerating. Copper demand rising. New discoveries scarce. Exploration names can move fast. Add NovaRed Mining to your watchlist. The AI era will not be built in the cloud alone. It starts in the ground. DYOR !

Victor Renard

27,826,051 views • 2 months ago

Copper stocks are going to go crazy in the coming years. Good Copper Juniors are going to 10X easily. S&P Global Vice Chairman Daniel Yergin: "We'll need 50% more copper than we have today." Honestly, you don't need to be a genius to work out that without a lot more Copper, we can't have things like AI, Autonomous Vehicles, Rockets or Robotics. If you're bullish these sectors you must be bullish Copper.

Copper stocks are going to go crazy in the coming years. Good Copper Juniors are going to 10X easily. S&P Global Vice Chairman Daniel Yergin: "We'll need 50% more copper than we have today." Honestly, you don't need to be a genius to work out that without a lot more Copper, we can't have things like AI, Autonomous Vehicles, Rockets or Robotics. If you're bullish these sectors you must be bullish Copper.

TheGladiator

133,112 views • 5 months ago

IN NEWS: Mariana Minerals raises a Series A led by a16z bringing its total funding to $85M. Mariana coins itself as the world’s only software-first, vertically integrated minerals developer, using an AI platform to turn every step, from discovery to refining, into a live, data-driven system. The team’s goal is to shrink a mine’s usual 12-year runway to “10 critical-mineral projects in 10 years,” starting with lithium, copper, and nickel sites already underway in the U.S. We spoke with Turner Caldwell about the mineral exploration and production process. "I think what we're missing is folks that are focused on condensing the timelines from when you have discovered something to when it is actually producing."

IN NEWS: Mariana Minerals raises a Series A led by a16z bringing its total funding to $85M. Mariana coins itself as the world’s only software-first, vertically integrated minerals developer, using an AI platform to turn every step, from discovery to refining, into a live, data-driven system. The team’s goal is to shrink a mine’s usual 12-year runway to “10 critical-mineral projects in 10 years,” starting with lithium, copper, and nickel sites already underway in the U.S. We spoke with Turner Caldwell about the mineral exploration and production process. "I think what we're missing is folks that are focused on condensing the timelines from when you have discovered something to when it is actually producing."

TBPN

39,656 views • 1 year ago

🚨 STOP AND LOOK AT THIS $SPX CHART 🚨 The S&P 500 has run the same cycle for 100 years - 25 years bull - 9-12 years bear I know what you're thinking - "we're still in the bull" I've heard this theory before. I just stopped believing it Here's why it doesn't work this time: Every previous bull market was powered by a technology that took DECADES to fully price in Personal computers took 25 years to penetrate every home and business on earth The internet took 25 years to reshape every industry But AI AI took only 2 years Not because it's less powerful - but because it was instantly accessible to everyone on day one No hardware to buy. No infrastructure to build. No learning curve ChatGPT launched and within months every company on earth had already priced in the next decade of AI productivity gains That's never happened before in market history Previous technologies needed time to reach people - and that time was what made bull markets last 25 years AI skipped that entirely The fuel burned in 2 years instead of 25 And when the catalyst is already fully priced in, the market doesn't wait for the calendar It just stops MARK MY WORDS!

🚨 STOP AND LOOK AT THIS $SPX CHART 🚨 The S&P 500 has run the same cycle for 100 years - 25 years bull - 9-12 years bear I know what you're thinking - "we're still in the bull" I've heard this theory before. I just stopped believing it Here's why it doesn't work this time: Every previous bull market was powered by a technology that took DECADES to fully price in Personal computers took 25 years to penetrate every home and business on earth The internet took 25 years to reshape every industry But AI AI took only 2 years Not because it's less powerful - but because it was instantly accessible to everyone on day one No hardware to buy. No infrastructure to build. No learning curve ChatGPT launched and within months every company on earth had already priced in the next decade of AI productivity gains That's never happened before in market history Previous technologies needed time to reach people - and that time was what made bull markets last 25 years AI skipped that entirely The fuel burned in 2 years instead of 25 And when the catalyst is already fully priced in, the market doesn't wait for the calendar It just stops MARK MY WORDS!

bee🐝

12,696 views • 1 month ago

omment “Copper” and I’ll send the PDF guide directly to your DM! 💬 If Mukesh Ambani had to invest in just one metal — he wouldn’t choose Gold or Silver, he’d choose Copper. 🪙 Because the future belongs to copper. From AI and Electric Vehicles (EVs) to electronics and green energy, every futuristic product needs copper — and a lot of it. ⚙️🔋 According to the International Energy Agency (IEA), global copper demand is set to rise by 50% in the next 10 years! 🚀 Now the real question — how can you invest in copper today? 🤔 Here are 3 smart ways to invest 👇 1️⃣ International ETFs: – COPX ETF – tracks top global copper mining companies. – CPER Index Fund – tracks copper futures directly.

omment “Copper” and I’ll send the PDF guide directly to your DM! 💬 If Mukesh Ambani had to invest in just one metal — he wouldn’t choose Gold or Silver, he’d choose Copper. 🪙 Because the future belongs to copper. From AI and Electric Vehicles (EVs) to electronics and green energy, every futuristic product needs copper — and a lot of it. ⚙️🔋 According to the International Energy Agency (IEA), global copper demand is set to rise by 50% in the next 10 years! 🚀 Now the real question — how can you invest in copper today? 🤔 Here are 3 smart ways to invest 👇 1️⃣ International ETFs: – COPX ETF – tracks top global copper mining companies. – CPER Index Fund – tracks copper futures directly.

Mohini Maheshwari

26,841 views • 8 months ago

To build the renewables needed to achieve Net Zero by 2050, at current production rates, it would take nearly 10,000 years to mine enough lithium, more than 7,000 years for enough vanadium, over 1,700 years for cobalt, 400 years for nickel and almost 200 years for the copper. Even if hundreds of thousands of new mines opened tomorrow, we'd still run out of reserves long before reaching the goal. Global copper reserves are estimated at 800 million tonnes but what's required for Net Zero is a whopping 4,500 billion tonnes. Likewise with nickel, reserves are 95 million tonnes but we'll need 940 million. And for lithium, reserves stand at just 22 million tonnes but 944 million is needed. The math doesn't lie. Net zero isn't a plan. It's a fantasy.

To build the renewables needed to achieve Net Zero by 2050, at current production rates, it would take nearly 10,000 years to mine enough lithium, more than 7,000 years for enough vanadium, over 1,700 years for cobalt, 400 years for nickel and almost 200 years for the copper. Even if hundreds of thousands of new mines opened tomorrow, we'd still run out of reserves long before reaching the goal. Global copper reserves are estimated at 800 million tonnes but what's required for Net Zero is a whopping 4,500 billion tonnes. Likewise with nickel, reserves are 95 million tonnes but we'll need 940 million. And for lithium, reserves stand at just 22 million tonnes but 944 million is needed. The math doesn't lie. Net zero isn't a plan. It's a fantasy.

Electroverse

11,724 views • 20 days ago

To build the renewables needed to achieve Net Zero by 2050, at current production rates, it would take... • nearly 10,000 years to mine enough lithium • more than 7,000 years for enough vanadium • over 1,700 years for cobalt, • 400 years for nickel • and almost 200 years for the copper Even if hundreds of thousands of new mines opened tomorrow, we'd still run out of reserves long before reaching the goal. Global copper reserves are estimated at 800 million tons, but what's required for Net Zero is a whopping 4,500 billion tons. Likewise with nickel, reserves are 95 million tons, but we'll need 940 million. And for lithium, reserves stand at just 22 million tons, but 944 million is needed. The math doesn't lie. Net Zero isn't a plan. It's a fantasy.

To build the renewables needed to achieve Net Zero by 2050, at current production rates, it would take... • nearly 10,000 years to mine enough lithium • more than 7,000 years for enough vanadium • over 1,700 years for cobalt, • 400 years for nickel • and almost 200 years for the copper Even if hundreds of thousands of new mines opened tomorrow, we'd still run out of reserves long before reaching the goal. Global copper reserves are estimated at 800 million tons, but what's required for Net Zero is a whopping 4,500 billion tons. Likewise with nickel, reserves are 95 million tons, but we'll need 940 million. And for lithium, reserves stand at just 22 million tons, but 944 million is needed. The math doesn't lie. Net Zero isn't a plan. It's a fantasy.

Electroverse

20,596 views • 4 months ago

Alex on why AI + fully autonomous labs will compress drug discovery from five years to two: "If scientists are armed with agentic infrastructure that has an intelligence that's a multiple of Einstein, they will do science faster, with higher probability, for lower cost, and have greater impact." "AI coming into the discovery of medicines is one of the biggest unlocks we will see in history because it means we're no longer constrained by our hands or minds. We can identify all n number of hypotheses that could exist, figure out the best experiment to run, and run those 24/7." "The sheer ability to be more comprehensive in our hypothesis set, and to run experimentation at unprecedented scale, means we're going to speed breakthroughs from timelines that take three to five years to timelines that take less than a couple of years."

Alex on why AI + fully autonomous labs will compress drug discovery from five years to two: "If scientists are armed with agentic infrastructure that has an intelligence that's a multiple of Einstein, they will do science faster, with higher probability, for lower cost, and have greater impact." "AI coming into the discovery of medicines is one of the biggest unlocks we will see in history because it means we're no longer constrained by our hands or minds. We can identify all n number of hypotheses that could exist, figure out the best experiment to run, and run those 24/7." "The sheer ability to be more comprehensive in our hypothesis set, and to run experimentation at unprecedented scale, means we're going to speed breakthroughs from timelines that take three to five years to timelines that take less than a couple of years."

Patrick OShaughnessy

39,883 views • 3 months ago

On December 15, 2023, LME copper settled at $8,471 per tonne ($3.85 per pound). Today, May 25, 2026, the LME price is $13,660 per tonne, with U.S. copper trading (at a premium) at around $6.46 per pound. That’s a rise of over 60% in just two and a half years. The $15,000 per tonne threshold, needed to incentivise meaningful new supply, which I highlighted back in 2023, is now less than 10% away. Yet global copper supply is weaker today and costs are higher. Meanwhile, the demand for copper from the world’s two largest economies is unprecedented. In the US, potential Section 232 tariffs have put imported copper in the crosshairs, while in Asia we’re entering peak Chinese demand season. There are no semiconductors, no data centers, no electrification without copper… which is why the price of the world’s essential electrical conductor now trades in tandem with Nvidia and the AI boom. Add to the mix EVs, robotics, and defense demand, and copper’s future price direction is clear. In another two and a half years, $20,000 per tonne or $9+ per pound is realistic. Watch the LME warehouses closely and see where the metal actually moves… the world is finally waking up to the true value of copper.

On December 15, 2023, LME copper settled at $8,471 per tonne ($3.85 per pound). Today, May 25, 2026, the LME price is $13,660 per tonne, with U.S. copper trading (at a premium) at around $6.46 per pound. That’s a rise of over 60% in just two and a half years. The $15,000 per tonne threshold, needed to incentivise meaningful new supply, which I highlighted back in 2023, is now less than 10% away. Yet global copper supply is weaker today and costs are higher. Meanwhile, the demand for copper from the world’s two largest economies is unprecedented. In the US, potential Section 232 tariffs have put imported copper in the crosshairs, while in Asia we’re entering peak Chinese demand season. There are no semiconductors, no data centers, no electrification without copper… which is why the price of the world’s essential electrical conductor now trades in tandem with Nvidia and the AI boom. Add to the mix EVs, robotics, and defense demand, and copper’s future price direction is clear. In another two and a half years, $20,000 per tonne or $9+ per pound is realistic. Watch the LME warehouses closely and see where the metal actually moves… the world is finally waking up to the true value of copper.

Robert Friedland

56,394 views • 2 months ago