Mining a Commodity

I was trying to express what I had learned in value investing through the world of commodities. What you were essentially doing was buying a call option on future weight of commodities which you could always extract from the ground. You're betting that the future value will be higher than the present value. Otherwise you'd mine now. But there's a reason why you don't want to mine now. The price of the commodity will rise over time, but it also rises with inflation. And when you actually have inflation and you have to raise interest rates then you're basically increasing the cost of time as well,. That was my idea. It was a novel idea. There were a few people that had done it