Copper can get ten times more expensive, said Robert Friedland, the founder and executive co-chairman of Ivanhoe Mines in an interview to Bloomberg.
Some analysts share his concern about a looming copper crunch, but consensus is for far more gradual price gains in the coming years.
Demand for critical raw materials is set to jump as nations mandate clean energy and transport while clambering to develop their own supply chains.
But a combination of factors suggests supply won’t keep pace, according to billionaire Robert Friedland. They include the fact that deposits are getting pricier and trickier to find and dig up.
Friedland, who made his fortune from Canadian nickel and is behind massive copper finds in Mongolia and Congo, has long championed the importance of the metal used in everything from wires to weaponry.
Alex Shishlo for Rough&Polished
