In this in-depth Interview, I sat down with copper heavyweights Gianni Kovacevic, Ivan Bebek of Copernico Metals, and Ian Harris of Copper Giant Resources to break down the coming copper supercycle, declining ore grades, rising global electrification, AI-driven grid demand, supply bottlenecks, M&A trends, permitting challenges, and why copper prices may need to surge far higher to unlock new mines. The panel explains China’s dominance, the limits of aluminum substitution, the role of silver and gold by-product credits, the collapse in global discoveries, and why copper equities remain deeply undervalued despite a looming structural deficit. A must-watch for investors seeking long-term exposure to the energy transition and critical minerals boom.

🗓️ Recording date: February 25, 2026

📖 Chapters
00:00 – Introduction
01:00 – Guest introductions: Kovacevic, Bebek, Harris
02:00 – Is the market accepting the copper structural shift?
04:30 – Aluminum substitution & China’s impact on copper prices
05:00 – Supply constraints: social, environmental, and geological factors
07:00 – Why major discoveries have nearly vanished since 2015
08:40 – ICSG deficit outlook & credibility of forecasts
10:45 – Why decoupling and disruptions create extreme copper volatility
12:00 – Electrification, AI data centers & long-term demand curve
14:00 – China’s electrification and global energy transition trends
16:00 – Underappreciated demand drivers: defense, EVs, grid upgrades
18:00 – Inflation, construction cycle & population doubling impacts
20:00 – Are copper equities undervalued? Why the market lags
22:00 – Why tier-one copper projects are extremely rare
24:30 – How investors should position for volatility
28:00 – Where M&A will strike next in the copper sector
31:30 – Best jurisdictions: South America vs Africa
34:00 – Can secondary copper supply fill the gap?
36:30 – Declining grades & the long-term supply crunch
39:00 – Copper vs silver: complementary or competitive?
42:00 – Do gold/silver credits fix copper project economics?
46:00 – What generalist investors should know about copper
47:50 – What is the real copper incentive price?
51:00 – Final thoughts