Copper demand is only expected to rise.
For one, “More than 700 million mt of copper will need to be mined in the next 22 years to maintain 3.5% GDP growth, without taking into account the electrification of the global economy, which is the same volume of copper ever mined, Ivanhoe Mines Founder & Co-Chair Robert Friedland,” as noted by S&P Global.
In addition, the world could run into a 9 million mt copper deficit by 2030, as noted by BMO Capital. All while demand increases for electric vehicles, solar and wind-power technology, and power grids. In fact, as also noted by S&P Global, “All power grids globally were unreliable, with huge investment needed to upgrade aging grids — in the US alone, he said investment of about $208 billion was needed by 2029 and around $338 billion by 2039.”
All could drive significant interest to companies, such as CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF), Freeport-McMoRan (NYSE: FCX), Southern Copper Corporation (NYSE: SCCO), Teck Resources Ltd. (NYSE: TECK), and Turquoise Hill Resources (NYSE: TRQ).