Copper prices have risen by 29% this year, reaching $5 per pound, the highest since March 2022. Key factors include BHP’s takeover offer to Anglo American, highlighting the profitable copper mine sector, and China’s economic stimulus measures, particularly the issuance of 1 trillion yuan for infrastructure, boosting demand.
China, the largest copper importer, significantly influences the supply chain. The AI boom, especially in data center construction, is projected to increase copper demand by one million metric tons by 2030. Bank of America forecasts copper prices could rise to $5.44 per pound by 2026. However, underinvestment in mining, with 2022 investments nearly 50% lower than in 2010, and potential disruptions in Latin American mines may exacerbate supply shortages from 2024 onwards.
Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.
