Mining executive: Copper is expected to be the best-performing metal this year, with structural supply-demand imbalances supporting a long-term bullish outlook
- Vizsla Copper Corp CEO Craig Parry stated that copper may emerge as the standout metal of the current cycle, with its performance this year expected to surpass that of gold and silver. This is due to a collision between structural supply constraints and strong long-term demand drivers. Unlike the urbanisation drive in China in the early 2000s, the current drivers are broader and more enduring, such as global electrification, the transition to green energy, and infrastructure investment.
- The copper industry is facing a severe shortage of new supply: major producers are already struggling to maintain existing output, while new projects are challenged by rising capital costs, regulatory hurdles, and long development cycles. Meeting future copper demand will require around 200 billion US dollars of investment, but there are not enough viable projects to absorb this capital. Parry expects that if supply fails to keep up, copper prices could reach 20–30 US dollars per pound by the end of this decade.
- Gold remains supported by central bank purchases and geopolitical uncertainty, but recent turmoil in the Middle East has dampened physical demand; once trade flows normalise, gold prices are expected to rebound. Silver sits between gold and copper, with solar demand set to absorb the majority of supply. Parry described the recent broad-based sell-off in mining stocks as an "extraordinary opportunity," predicting a sharp sector re-rating over the next 12–18 months. Vizsla is advancing exploration plans, including the Palmer project in Alaska.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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