Copperman

COLUMN: My take after copper prices surge to an all-time high. “Now, as the energy transition aims to electrify everything, from driving to heating, copper will be everywhere too. Predictably, it has become the darling of the commodity market. The slogan is simple: In the climate-change era, copper is the new oil — a critical mineral essential to rewire our energy system with renewable power. As with every financial narrative, the story of the boom has a grain of truth — and ample hogwash. Cynical metals investors should be forgiven for having a case of déjà vu: The same narrative served to inflate the bubbles in battery metals — lithium and cobalt — and rare earths elements a few years ago. Their prices all crashed after a short-lived, hyped bull run. Copper isn’t a bubble yet, but it is a crowded trade where everyone — commodity trading houses, hedge funds, Wall Street, mining executives — is betting in the same direction.” Bloomberg Opinion #copper #energytransition

FINANCING THE ENERGY TRANSITION This week it is 27 years since Lord Browne gave his landmark climate change speech at Stanford University, which opened the world to a new world view: one day we need to go beyond fossil fuels. Much has been learned and today we see with clarity that the energy transition is more urgent than ever. It is seen as the larger capital allocation event since the end of WW2 and we need technologies like carbon capture, green hydrogen, green building materials, EV batteries, and more to go to scale – now. Origination brought this week together exceptionally resourceful next generation investors, entrepreneurs, and new venture leaders from Fortune 500 companies. Just as on that warm May day at Stanford 27 years we see with clarity: 1) Every nation must take responsibility for its actions and leverage its unique strengths to drive the energy transition forward. Setting Net Zero targets is easy (>80% of the world’s emissions are covered by such targets), but the pace of execution is lagging 2) Every country has a role to play in advancing renewable resources, innovative technology solutions, or policy frameworks conducive to sustainable development. Whether IRA in the US, the EU Green deal, or India’s 2070 vision, governments need to work with private sector to unlock $3-5tn USD per year in capital allocation. 3) Financing the energy transition is still a challenge. There is a gap today in the way governments have funded the oil industry, medicine R&D, and other 20th century drivers of human prosperity. Private investors will not invest in projects that lose money and government funding is not sufficient. Hybrid finance, blended finance, philanthropy, government investments, incentives, and private capital all have a key role to play. Our mission at Origination is to build a community of originators able and willing to invest in service of the next seven generations. We are grateful to Lord Browne for sharing his analysis and wisdom with us and to all who brought their insights to the table. Thank you. We are stronger together. #energytransition #climatefinance #sustainability #netzero #sdg #nextgen #Origination

“We need to mine as much copper in the next 20-25 years as we've mined in last 10,000 years.” - Robert Friedland (@robert_ivanhoe) thru Brandon Beylo Here’s why 👇 #copper

⚓ THE PANAMA CANAL - World's Most Important Waterway #engineering

One of the downsides of the junior sector's focus on recycling the same projects is that major copper discoveries have become increasingly rare. This trend may be attributed to the industry's reluctance to explore in green fields environments. As a result, the industry is struggling to replenish reserves and relying on increased copper prices to lower economic cut-off grades, which could have long-term implications for the copper market. Synergy Resource Capital S&P Global Market Intelligence