URA - EXCLUSIVE: Green Transition Will Drive Copper Uranium And Lithium Higher Says Veteran Commodity Analyst | Benzinga
China is no longer building fossil fuel power stations at the rate of two a week, as the world opts for greener energy options.
Still, the metals needed to achieve these goals will surge again, according to Patricia Mohr, commodities expert and a former vice president at Scotiabank.
Mohr told Benzinga’s Melanie Schaffer that the green transition could see prices for certain commodities spike.
Speaking at the recent Prospectors And Developers Association of Canada (PDAC) conference in Toronto, Mohr said she was especially bullish on both copper and uranium.
“In the mining space we think copper is going to do very well — currently trading around $4 a pound, I think in a couple of years it will move above $5 a pound, which will be quite a profitable level,” she said. “We need to see that level because we need to see investment in some new mines established around the world to meet the decarbonization goals the world now has.”
Copper is used heavily in the production of electricity — whether that be in fossil fuel-guzzling power stations or wind and solar farms. The copper is used in turbines that convert rotational energy into electric energy. In fact, more copper is used in wind and solar energy production than in traditional fossil fuel stations.
It’s akin to when China’s tiger economy was growing at double-digit percentages every year throughout the 1990s. This ...