Timbercap1

The foundation of the last metals supercycle (2002 - 2011) was the rapid industrialisation of China… new cities, skyscrapers, railways, cars, power grids and the mass creation of a new middle class. Back then, it was a DEMAND story. The supercycle we are in today, is bigger, more global… and what makes it different is that it’s a SUPPLY story. The economies that will be left behind are those that are unable to secure their own critical minerals supply chain. The statement made in this article by Canada’s Natural Resources Minister, Tim Hodgson, comes after @BloombergNEF’s forecast that copper needs $332 BILLION of new mine investment to avoid a deficit starting in 2028… otherwise we face a shortfall of about 20 million tonnes (44% of demand) by 2050. We are in discussions with other authoritative sources that tell us that the @Bloomberg estimate is significantly too conservative. We will bring attention to these studies when they are published. New mines take decades and decades to find, permit, finance AND THEN build. One major obstacle for projects, especially those located in western economies, is permitting. Unfortunately, there is no quick fix... and permitting should not be rushed. At least, the growing panic for metals is forcing into public debate the topic of where ON EARTH these metals will come from. As they say at the Colorado School of Mines: Earth first... we will mine the other planets later. financialpost.com/commoditie…

It's significant when @apolloglobal, one of the world's largest alternative asset managers, starts writing about copper. Apollo manages over $1.0 trillion in assets across private equity, private credit, infrastructure... and other real assets. In the past, Apollo has made investments in coal and aluminum, but to my knowledge, they have not been active for at least the past 10 years... and they certainly have never made investments before in copper. Is that now about to change? Since Apollo was founded in 1990, only one of today's 10 largest copper mines is a new discovery... Kamoa-Kakula (2008). The rest were discovered before 1990... They are indeed correct that the copper pipeline is drying up... @IvanhoeMines_ @ivanhoeelectric @kamoa_copper_sa apollo.com/wealth/insights-n…

Thanks to the plugged-in folks at Bloomberg for giving me the chance to ring some alarm bells that I think everyone needs to hear: “We are really looking at the weaponization of certain critical raw materials in the supply chain and it's really a profound national security interest,” I told Bloomberg’s Joe Weisenthal and Tracy Alloway on their Odd Lots podcast. “And the metals we need to do something about that are the same metals that are needed for drone warfare or the defense from drone warfare. So we're seeing a sort of perfect storm in a balkanized world economy where demand for certain critical metals is going to infinity.” “We need to mine as much copper in the next 18 years as we did in the last 10,000 years, just to maintain global 3% GDP growth without the electrification of the world economy…In the last 30 years, all the capital on Wall Street went into sexy technology like the Internet and broadband and Netflix and wireless but when all the money goes in that direction, we didn't put money into basic raw materials, which are the foundation on which everything sits.” Huge thanks to @bloomberg’s hugely talented @TheStalwart, @TracyAlloway, @kevlloydlozano, @carmenarmen, Cale Brooks and of course the one and only @ryanchilcote for making it all happen. For more about how we got here and how, maybe, foresight and better technology can help us find our way out, listen to the episode on Apple podcasts, Spotify, youtube or at: bloomberg.com/news/articles/… @IvanhoeMines_ @ivanhoeelectric @SunriseMetals @IPulseGroup @IvanhoeAtlantic @bluesparkenergy

Big money just spoke loud and clear on the LME. A monster Sept ’26 15,500–17,000 call spread traded in 5,500 lots for roughly $22 million in premium. That’s not retail noise, that’s institutional conviction betting copper is heading significantly higher by late 2026. The supercycle thesis just got expensive confirmation. At @IvanhoeMines_ we’re proud to be one of the world’s largest and highest-grade copper producers, with the Kamoa-Kakula copper complex powering our energy future.