In the wake of increasing demand and tight supply of copper, Robert Friedland, the founder and executive co-chairman of Ivanhoe Mines Ltd, envisions a tenfold surge in copper prices. The demand surge is attributed to the increasing application of renewable energy technologies, deployment of electric vehicles, and global clean energy initiatives. However, he observes that mining is becoming more difficult and expensive. Despite a recent dip in copper futures prices, Friedland remains bullish about its long-term value. He cites ongoing Chinese demand, global decarbonisation efforts, and geopolitical factors as growth drivers. However, supply constraints are concerning, with Chile, the leading copper producer, expecting a 7% decrease in output this year.

Source: https://miningdigital.com/articles/ivanhoe-founder-says-copper-prices-could-jump-tenfold