I like to post these graphs when I see them during my net surfing for information.
As can be seen, we have had years of underinvestment in finding new copper resources. This is going to take years and billions of dollars of investment to rectify.
I understand that the sentiment in the market is that the weak economy in the EU, US, and China will lead to significant declines in commodity prices. This may, in fact, be what happens in the short term but in the medium and long term, this is a big problem, especially in the context of the desire to have an energy transition to electrification of the economy. The whole exercise is predicated on sufficient copper being available.
Heads we win/Tails we more