Mining giants believe that copper supply has become a national security issue

Mining magnate Robert Friedlander (Robert Friedland) says copper is so important in electrifying the global economy that adequate copper development has become a national security issue.

Friedland (Friedland), founder and co-chairman of Ivanhoe mining company (Ivanhoe Mines Ltd.), says mining companies will play an irreplaceable role if the world is to make a successful transition to clean energy and transport, and governments will need to accept the industry. At the same time, he pointed out that the mining industry has been plagued by underinvestment for many years, while the United States is in a state of underdevelopment, because the development of the mining industry has lagged behind in 20 to 30 years, and where the future supply comes from. How to tax and regulate will be a heated debate.

His view is in line with bullish analysts such as Nicholas Snowden (Nicholas Snowdon) of Goldman Sachs (Goldman Sachs Group Inc.), who expect gold to hit an all-time high as it enters its most tense situation since the mid-2000s.

Friedlander believes that copper is an important part of green infrastructure from Electroweb to wind turbines and requires a lot of investment to electrify the economy. Compared with China, American Electroweb is "a joke". It needs 10 trillion dollars and "astronomical" the right metal to get out of trouble. In the short term, copper prices have risen sharply. But in the medium term, copper has indeed become a national security issue. Copper is vital to development. While the industry should now be seen as part of a global decarbonization solution, it also faces the challenge of decarbonization. The quality of minerals around the world is deteriorating, which means that the amount of ore must be increased and carbon emissions must be increased. Mining will require hydropower and nuclear power as well as renewable energy. He believes that people should impose a carbon tax on everything.