Copper Demand

[dan_s]

Copper is trading at an all-time high.

If you have not watched the replay of our May 22nd webinar with Teo Dechev, CEO of Mundoro Capital (MUNMF) I highly recommend that you do so.
Here is the direct link to the replay: https://www.youtube.com/watch?v=DuNjULdcgTE

First, read these comments from IEA and Keith Kohl (I've been one of Keith subscribers for over 15 years).

Per IEA: Strong growth in emerging economies combined with an anticipated recovery in industry and ongoing electrification of the residential and transportation sectors in many parts of the world will be the mainstays of increasing electricity over our outlook. An important new source of higher electricity consumption is coming from energy-intensive data centers, artificial intelligence (AI) and cryptocurrencies, which could double by 2026.

Per Keith Kohl:"The IEA predicts that data centers’ total electricity consumption could reach more than 1,000 terawatt-hours in 2026. To put that into perspective, that’s roughly the equivalent of total energy consumption in Japan.

If the IEA’s predictions are sound, and I believe they are, the increased demand for copper should continue well into 2030. Which is why I continue to be quite bullish on copper, and suggest you get some exposure to it now."

"EVs require a lot of copper. To put it into perspective, the average vehicle with an internal combustion engine requires between 18 and 49 pounds of copper. An electric car like the Tesla Model S requires about 165 pounds of copper, or about three times as much as an internal combustion vehicle. Also consider larger EVs, like electric buses. Those require more than 800 pounds of copper."

Mundoro Capital is currently working on three copper projects in Europe that are being funded by BHP, one of the world's largest mining companies.