Two mining executives from American Pacific Mining Corp. gave recent interviews to two industry news outlets claiming out of all metals — precious metals included — copper could have the biggest upside potential.
“Copper is beginning to define its own narrative,” Eric Saderholm, co-founder and managing director of exploration at American Pacific, said in an interview with Benzinga. “Traditionally (it has been) linked with zinc and they have followed similar paths with growth and loss, but when I look at zinc and some of the other metals, I see 100 years of reserves.”
On the other hand, copper is expected to be in a “critical pinch point” in 10 or 15 years, he said.
Copper prices have recovered since a notable drop in April and May. (Source: TradingView)
Saderholm said he expects recycling efforts of the metal to pick up, potentially beyond the current 30% market share.
“Permitting will also have to be eased,” he said. “We know we have copper mines ready to go, but at 20 years to get something going and say $6 or $7 billion — that has to be eased up or we won’t have enough copper.
American Pacific CEO Warwick Smith said to Kitco News an increase in demand due, in part, to green energy goals could exacerbate the expected supply pinch.
“To meet (the goals) by 2050, the global economy will need as much copper as has been produced in the last 3,000 years,” he said. “There just isn’t that amount of copper available, and we’re running out of time. It takes 16 years to develop a copper mine from discovery to production.
“That’s why we’re so bullish on copper.”
Augusta Precious Metals
$0 (10 Years)
$50,000
"Best Overall" by Money Magazine, Award-Winning for 6 Years, Thousands of 5-Star Rankings
Expand Details
Renowned for its exceptional customer service and commitment to transparency, Augusta Precious Metals has garnered numerous accolades, including "Best Overall" from Money magazine and "Most Transparent" from Investopedia. The company's dedication to educating and supporting its clients has earned it top ratings from organizations such as A+ from BBB and AAA from BCA.Goldco
Vary
$25,000
Industry leader with over $2 Billion in gold and silver. Top rated precious metals company with buy back guarantee
Expand Details
From precious metals iras to direct purchases of gold and silver, goldco have helped thousands of americans place over $2 billion in gold and silver. Top-rated precious metals company rated A+ by the better business bureau rated triple a by business consumer alliance earned over 6,000+ 5-star customer ratings Money.Com 2024 best customer service 2024 inc. 5000 regionals: pacific ranked #17 2024 gold stevie award, fastest growing company inc. 5000 award recipient, 8+ yearsAmerican Hartford Gold
Vary
$10,000
American Hartford Gold, ranked #1 Gold Company on Inc. 5000, boasts thousands of A+ BBB ratings and 5-star reviews, endorsed by Bill O'Reilly and Rick Harrison..