Value Hive Podcast Will Thomson (Massif Capital): The Zambia Copper Opportunity
Dec 20, 2024
Will Thomson, an expert in the copper market from Massif Capital, dives into Zambia's potential as an investment hub. He discusses the intricate forces shaping copper supply and demand, emphasizing the region's rich mining heritage. Will highlights ongoing investment reforms in Zambia, contrasting its opportunities with challenges in the Democratic Republic of the Congo. He touches on investment strategies in the mining sector and the importance of management experience and infrastructure for maximizing returns in Zambia's promising copper landscape.
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Copper's Economic Sensitivity
- Copper's price is tied to economic health, making it tricky to predict.
- Focus on companies with catalysts like new mines or mergers.
Copper's Crowded Trade
- Bullish copper sentiment is crowded, yet the long-term trend remains strong.
- Supply-side constraints, not just energy transition, will drive prices up.
Scrap Copper's Importance
- Recycled copper (scrap) is crucial for future supply, projected to grow to 40-50% by 2050.
- Building robust scrap collection systems in developing countries is crucial but challenging.