Merryn Talks Money Why It’s Time to Invest in Mining
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Jul 11, 2025 Evy Hambro, Head of thematic investing at BlackRock, and Nicky Shiels, Head of metals strategy at MKS PAMP, delve into the rising importance of mining in the global economy. They emphasize commodities' critical role amidst technological shifts and energy transitions. The duo discusses the surge in demand for precious metals like gold, particularly in light of geopolitical tensions and inflation. They also explore investment strategies in metals, including rare earth elements, and the evolving dynamics between Bitcoin and gold in modern portfolios.
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Commodities Are Undervalued Essentials
- Commodities are essential but undervalued and overlooked by most investors and society.
- Panic or shortages temporarily raise interest, but long-term recognition is lacking.
Energy Addition Raises Metal Demand
- The energy transition is actually an energy addition, increasing demand for metals drastically.
- Supply is constrained by environmental and regulatory hurdles, causing a long-term imbalance.
Mining Supply Risks and Costs
- Existing mining assets trade cheaper than the cost and risk of building new mines.
- New mine projects often run over budget, emphasizing supply-side investment challenges.
