On Wednesday, I had the pleasure of hosting a copper CEO roundtable with the CEOs of Libero Copper (Ian Harris), Ridgeline Minerals (Chad Peters), and QC Copper (Stephen Stewart). Here are some of the key takeaways from the conversation:
- The game hasn’t even begun – we aren’t even in the first inning of the copper cycle that is coming.
- $4.30/lb copper isn’t a high enough price to incentivize any mining companies to be more aggressive in doing M&A deal or accelerating production ramp-ups.
- On the large producers making acquisitions: “They won’t make acquisitions until they’re forced to.”
- The electrification of the planet will help to increase global annual copper consumption to ~50 million tonnes by 2050:
- It’s easier and cheaper to find pounds of copper in the stock market than it is to go out and drill to make new discoveries.
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