Capital Cyclists Copper Calling: A Capital Cycle Story
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Jun 5, 2024 Dan Myerson, CEO of Foran Mining, discusses the copper market and the importance of a supply-focused approach with portfolio manager Django Davidson. They explore the challenges in investing in mining, Glencore's strategy, and dynamics in the copper market, including the impact of the capital cycle on industry valuations and operations.
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Career Bet on Mining
- Dan Meyerson left Morgan Stanley and a life in Switzerland to run Foran Mining.
- He bet everything on the Canadian copper project, highlighting his conviction.
Mining Brain Drain
- Mining's 20-year CapEx underinvestment has caused a brain drain.
- Rio Tinto now sponsors entrepreneurs to enter mining, addressing the talent shortage.
Glencore's Supply Focus
- Glencore prioritizes a bottom-up, supply-focused approach.
- They analyze global mine supply to inform trading and investment decisions.