Psst, here’s a hot tip from the commodity markets. Now would be a good time to get into copper.
That’s right, copper. The industrial metal used in batteries is expected to experience strong demand as vehicles go electric. For those with the money and expertise to develop copper mines, especially in stable countries such as the U.S. and Canada, a business opportunity awaits.
But it takes at least a decade to bring a new mine online. And let’s face it, no one wants one in their backyard. Mining creates pollution that needs to be mitigated. Banks these days are wary of financing new projects likely to be declared “dirty” and targeted for protests. Plus, rising interest rates have raised the cost of the capital needed for such long-term investments.
