True precious metal is ‘Copper’
In the age of electrification, copper wins, this according to Gianni Kovacevic, Executive Chairman of CopperBank.
“Today, 80% of the energy mix is fossil fuels, 20% is electricity. But in the future, all ends up in electricity. The current 20%, it took 120 years to get there. We’re going to accelerate…what’s going to make that possible? It’s not gold, it’s copper,” Kovacevic told Kitco News on the sidelines of the International Mining Investment Conference in Vancouver.
Speaking on the potential death of platinum group metals due to the absolution of catalytic converters from electric cars, Kovacevic said that copper won’t share the same fate.
“When you electrify a car, there is no longer a tailpipe. You have three or four times more copper in that car,” he said. Kovacevic said that a good way to invest in copper is through companies with optionality; projects with a lot of money spent on them, in safe jurisdictions, and have the plausibility to go into production.