Print the page
Increase font size
The Metal Humanity Can’t Live Without

Posted July 24, 2024

Matt Insley

By Matt Insley

The Metal Humanity Can’t Live Without

In May, copper posted a record high $5.11 per pound. 

With the price of copper at $4.23 today, the price falls “woefully short” of supporting R&D among miners, says Robert Friedland — founder of Ivanhoe Mines. 

“Recent copper mine builds in Chile and Peru, jurisdictions once credited for having among the biggest and cheapest copper mines, have seen costs soar to about $45,000 per tonne… due to inflation, steadily falling grades and dropping output,” says Mining.com.

pub Copper concentrate fills a railcar in Peru

Turning from South America to Asia: “Copper prices may rise past the $10,000-per-tonne ($4.54 per pound) mark again in the near term due to a Chinese smelter supply shortage and grid investments in China.”

Which leads to Friedland’s blunt assessment: “The world is suffering from a shortage of copper metal.” 

Send your opinions to, feedback@newsyoucanacton.com

Your Rundown for Wednesday, July 24, 2024...

Digging Deeper…

At the recent Rule Symposium on Natural Resource Investing, Friedland claimed copper is “the most important element on the periodic table for humanity.” 

He highlights, for instance, its crucial role in emerging technologies like renewable energy (solar, wind, etc.), EVs, AI data centers and modern warfare. 

(In fact, Friedland believes military demand for copper “is going to go to infinity in the next few years.”)

Beyond high-tech applications, Friedland points out the massive copper needs for basic quality-of-life improvements worldwide — especially the developing global South. 

Electric fans, air conditioners, refrigerators, ICE vehicles… 

“Certainly in the developing world, from Paraguay to Pakistan, when people get some new money they buy a microwave oven, refrigerator, air conditioner which all rely on copper,” Paradigm’s energy-and-mining authority Byron King agrees. 

“There is no rational price for something you absolutely must have,” Friedland adds. 

On the supply side, Friedland expresses concern about the U.S. lagging behind other countries, particularly China, in raw materials production. 

“We see a crisis coming in physical markets and a requirement for much higher prices to enable most of the copper projects that are in development to have a prayer coming in,” Friedland adds. 

Nonetheless, he’s optimistic about new exploration technologies and American ingenuity to address supply challenges:

  • Ivanhoe Electric's Typhoon technology, for example, can spot electrically conductive metals like copper, gold, silver and nickel beneath the Earth’s surface. “In May, Ivanhoe Energy announced an alliance with BHP to use Typhoon to explore areas of interest in Arizona, New Mexico and Utah,” says an article at Investing News Network. 

To wit, Friedland strongly believes in copper as an investment, saying: “I don't think any intelligent portfolio can be constructed without copper exposure.” 

This as so-called “generalist” investors “are on the cusp of becoming interested” in metals and mining stocks, the article notes. 

Finally, there’s this stand-out figure… 

“Humanity would have to mine more copper in the next 20 years than we have in human history to meet surging global demand,” says Mining.com. 

Market Rundown for Wednesday, July 24, 2024

S&P futures are down 0.80% to 5,550. 

Oil is up 1.25% to $77.93 for a barrel of WTI. 

Gold is up 0.50% to $2,418.80 per ounce. 

And Bitcoin is up 1% to $66,400. 

Send your comments and questions to, feedback@newsyoucanacton.com

Trump’s Huge Border Win

Trump’s Huge Border Win

Posted July 07, 2025

By Matt Insley

Trump’s campaign promise to restore order at the border: Mission accomplished.
Americans First

Americans First

Posted July 03, 2025

By Matt Insley

The American flag means different things to different people, but being American means standing together, even when we see things differently.
Could Trump Deport Elon?

Could Trump Deport Elon?

Posted July 02, 2025

By Matt Insley

Could Trump deport Elon? That’s the question firing my synapsis this morning…
The Daredevil in Pink Tights

The Daredevil in Pink Tights

Posted June 30, 2025

By Matt Insley

A spectacle that occurred on this date in history was called “the wonder of the age.” Today, Trump’s political tightrope walk is no less perilous.
Star Geologist On “Birthright” Companies

Star Geologist On “Birthright” Companies

Posted June 27, 2025

By Matt Insley

Notes from the underground…
Iran’s Energy Chokepoint: Strait of Hormuz Fallout

Iran’s Energy Chokepoint: Strait of Hormuz Fallout

Posted June 25, 2025

By Matt Insley

The Strait of Hormuz crisis underscores the risks of dependence on global energy chokepoints. America’s true advantage lies beneath its own land