Wednesday, July 26, 2017

Mining Billionaire Robert Friedland says copper to outperform gold

Stockhouse:

(snip)

Financier Robert Friedland outlined the investment case for copper, explaining that rapid urbanization, combined with efforts to fight air pollution and mass production of election vehicles will significantly increase demand for the red metal.

(snip)

Friedland said he expects to see a nine fold increase in copper demand by 2027 that will be driven by mass production of electric vehicles. However, he said there is not enough copper being discovered in the world to meet that demand.

By comparison, he said there are currently no “disruptive technologies” that will spark a similar increase in consumption of gold.

Robert Friedland is of course the guy that promoted the Oyu Tolgoi copper mine in Mongolia. The sale of the mine to Rio Tinto made him a billionaire.

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