USA News Group Commentary
Issued on behalf of Yukon Metals Corp.
VANCOUVER, BC, June 14, 2024 /CNW/ -- With prices soaring for copper amid supply cuts and higher demand from energy transition and artificial intelligence (AI) projects, many industry experts are asking whether or not the red metal is entering a new supercycle of prolonged high demand and rising prices. According to analysts at Sprott, copper's new supercycle is already emerging, as protectionist moves by countries looking to secure vital materials are only stoking the flame. Long viewed as a barometer for economic activity, the market witnessed record highs in copper prices last month, signalling the urgency of developing new supplies. With experts stating the current copper supply forecast is insufficient for the global EV transition by 2035, the rise of AI infrastructure needs only serves to amplify the shortage. When opening a single copper mine can take 23 years, moves made by miners today are incredibly important, with recent developments coming from Yukon Metals Corp. (CSE: YMC), Freeport-McMoRan Inc. (NYSE: FCX), Taseko Mines Limited (NYSE-American: TGB) (TSX: TKO), Teck Resources Limited (NYSE: TECK) (TSX: TECK-B), and Ero Copper Corp. (NYSE: ERO).
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