Very few understand the number and scale of resources needed to transition from fossil fuels to renewable energy sources. Take a wind turbine for example – 4.7 tons of copper is needed! To put that into perspective, it’s the equivalent to the weight of two Tesla’s worth of copper per wind turbine.
Copper is well positioned for future price appreciation for a host of reasons:
- Electric vehicles require 3 times more copper wiring than your normal combustion engine equivalent
- Transition to renewable energy sources is reliant on copper
- Supply issues – the world’s mega copper mines are ageing and there are very few discoveries being made.
- A rapidly growing emerging markets middle class is going to bolster demand for copper as they start to use more electricity and copper is one of the most conductive metals
The best way to profit from a surge in demand for copper is to own Oz Minerals (OZL).
To sweeten the idea, the company has fallen 40% from its January high, making it the perfect time to Load Up.
