{"id":27730,"date":"2023-06-26T15:40:43","date_gmt":"2023-06-26T19:40:43","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/billionaire-miner-friedland-warns-of-a-copper-train-wreck-as-supply-stalls\/"},"modified":"2023-06-26T15:40:45","modified_gmt":"2023-06-26T19:40:45","slug":"billionaire-miner-friedland-warns-of-a-copper-train-wreck-as-supply-stalls","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=27730","title":{"rendered":"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls"},"content":{"rendered":"<div>\n<p>(Bloomberg) &#8212; Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of accelerating demand, warns the man behind some of the world\u2019s biggest mines.<\/p>\n<p>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\u2019t keep pace, according to billionaire Robert Friedland. They include the fact that deposits are getting pricier and tricker to find and dig up, funding is scarce and societies have yet to grasp mining\u2019s role in the shift from fossil fuels.<\/p>\n<p>\u201cWe\u2019re heading for a train wreck here,\u201d the founder and executive co-chairman of <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Ivanhoe Mines <\/span><\/span> (OTC:) Ltd. said in an interview at Bloomberg\u2019s New York headquarters. \u201cMy fear is that when push finally comes to shove\u201d  can go up 10 times.<\/p>\n<p>Friedland, who made his fortune from Canadian nickel and is behind massive copper finds in Mongolia and the Congo, has long championed the importance of the metal used in everything from wires to weaponry. Some analysts share his concern about a looming copper crunch, but consensus is for far more gradual price gains in the coming years.<\/p>\n<p>Read More: The China-Driven Metals \u2018Super Cycle\u2019 Is Over, Jefferies Says<\/p>\n<p>Futures are down 10% from a January peak as an uneven post-pandemic recovery in China \u2014 the world\u2019s biggest metals consumer \u2014 and inflation-fighting efforts by central banks restrains demand. Still, Friedland sees copper\u2019s longer-term prospects supported by decarbonization, ongoing Chinese demand, the emergence of India and re-militarization in the wake of Russia\u2019s invasion of Ukraine.<\/p>\n<p>On the supply side, output in top producer Chile has plateaued as ore quality deteriorates. The industry in general is having to dig deeper and contend with an uptick in resource nationalism and far more stringent environmental and social standards.<\/p>\n<p>Read More: Giant Chile Mines Are Struggling Just as World Needs More Copper<\/p>\n<p>Investors have yet to grasp the significance of a global rush for the building blocks of clean energy, Friedland said. He points to very low physical inventories of copper coinciding with historically low relative valuations of mining companies. Large premiums paid in recent acquisitions indicate the mining industry understands where the market is headed, he said, although consolidation won\u2019t solve the dilemma of how to boost production.\u00a0<\/p>\n<p>Friedland points to other commodities as examples of what may be in store for a tightening copper market. Chinese spot prices of molybdenum doubled from August to February amid supply disruptions and growing demand from the renewables and military sectors. One gauge of semi-processed lithium shot up 422% in 2021.<\/p>\n<p>\u201cWhen metals are required, the prices go crazy and nobody\u2019s willing to sell them,\u201d he said. \u201cWe\u2019re heading into that sort of situation.\u201d<\/p>\n<p>The 72-year-old magnate is making his latest mining bet on the US. Ivanhoe Electric Inc., which has BlackRock Inc (NYSE:). and BHP Group (NYSE:) as investors, is exploring in Arizona when the US is starting to realize the importance of domestic sources of raw materials and supply chains for greening the economy.<\/p>\n<p>Read More: Billionaire Friedland Says US Must Brand Copper a Critical Mineral<\/p>\n<p>China is a dominant player in processing of nickel, copper, cobalt and other resources that are key to economic growth and clean-energy technologies. With initiatives such as the Inflation Reduction Act, the US is seeking to curtail global dependence on China as competition between the two nations increases. The European Union has already proposed classifying copper and nickel as critical raw materials in legislation designed to bolster supplies, alongside other metals key to the energy transition.<\/p>\n<p>\u201cEurope is in a panic about where their raw material is going to come from,\u201d Friedland said. \u201cThe US is in a panic about where their raw material is going to come from. And so we\u2019re going to see a lot of volatility and change in the way our supply chain is organized.\u201d<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/commodities-news\/billionaire-miner-friedland-warns-of-a-copper-train-wreck-as-supply-stalls-3113536\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of accelerating demand, warns the man behind some of the world\u2019s biggest mines. Demand for critical raw materials is set to jump as nations mandate clean energy and transport while clambering to develop [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":27731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-27730","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls | iFintechWorld<\/title>\n<meta name=\"description\" content=\"(Bloomberg) -- Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=27730\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"(Bloomberg) -- Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=27730\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-26T19:40:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-26T19:40:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/LYNXNPED830SZ_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=27730#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=27730\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls\",\"datePublished\":\"2023-06-26T19:40:43+00:00\",\"dateModified\":\"2023-06-26T19:40:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=27730\"},\"wordCount\":681,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=27730#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=27730\",\"url\":\"https:\/\/ifintechworld.com\/?p=27730\",\"name\":\"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-26T19:40:43+00:00\",\"dateModified\":\"2023-06-26T19:40:45+00:00\",\"description\":\"(Bloomberg) -- Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=27730#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=27730\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=27730#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls | iFintechWorld","description":"(Bloomberg) -- Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=27730","og_locale":"en_US","og_type":"article","og_title":"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls | iFintechWorld","og_description":"(Bloomberg) -- Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of","og_url":"https:\/\/ifintechworld.com\/?p=27730","og_site_name":"iFintechWorld","article_published_time":"2023-06-26T19:40:43+00:00","article_modified_time":"2023-06-26T19:40:45+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/LYNXNPED830SZ_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=27730#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=27730"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls","datePublished":"2023-06-26T19:40:43+00:00","dateModified":"2023-06-26T19:40:45+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=27730"},"wordCount":681,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Commodities"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=27730#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=27730","url":"https:\/\/ifintechworld.com\/?p=27730","name":"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-26T19:40:43+00:00","dateModified":"2023-06-26T19:40:45+00:00","description":"(Bloomberg) -- Copper is poised to follow other commodities upended by recent price surges as the mining industry struggles to expand ahead of","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=27730#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=27730"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=27730#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Billionaire Miner Friedland Warns of a Copper \u2018Train Wreck\u2019 as Supply Stalls"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/27730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27730"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/27730\/revisions"}],"predecessor-version":[{"id":27732,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/27730\/revisions\/27732"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/27731"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}