Giustra: Copper prices must rise as world faces looming supply crunch

Copper prices will have to move significantly higher to solve a looming supply crunch, according to mining financier Frank Giustra, who says the industry is failing to develop enough large-scale projects to meet future demand from electrification, artificial intelligence and global infrastructure growth.

In a wide-ranging interview with MINING.COM’s Top of Mine, Giustra warns that only a handful of world-class undeveloped copper deposits remain, predicts a new wave of mining M&A, and argues that the race to secure critical minerals has become a geopolitical struggle between major powers.

The veteran investor also discusses de-dollarization, central bank gold buying, rising global debt and why he believes the next economic downturn could trigger another round of quantitative easing and send gold sharply higher.