Analysts see a structural deficit in copper, as new production cannot be ramped up quickly enough.

Advertisement/Advertising – This article is distributed on behalf of Mogotes Metals Inc. and Axo Copper Corp., with which SRC swiss resource capital AG has paid IR consulting agreements. Creator: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: March 5, 2026, 6:00 p.m. Zurich/Berlin

Digital applications, infrastructure, power generation, storage, and transmission, as well as electromobility, all require copper. There is a threat of a supply shortage of the reddish metal. To prevent this, significantly higher prices and faster approval procedures are necessary. The world’s largest producer is Chile, but production there appears to be faltering. In January, the value of Chilean copper exports amounted to US$4.55 billion. This would be 7.9 percent more than in the same month last year.

However, copper prices rose by an average of 34 percent during this period. It therefore stands to reason that the quantities exported have declined. The AI industry, the energy transition, and electrification are driving demand for copper, and this demand is growing. Peru is still in second place among copper-producing countries but is being overtaken by Congo. Copper projects now seem to be lacking, as there was hardly any investment between 2011 and 2022 due to low prices. On average, it takes 17 years for a new copper discovery to start production. Costs are rising and ore grades are falling at existing mines.

As a result, more and more major investment banks are predicting a copper price of US$15,000 or more by the end of the decade. For investors, it could therefore be worthwhile to focus on copper and companies with copper in the ground.

Axo Copper – https://www.commodity-tv.com/ondemand/companies/profil/axo-copper-corp/ – owns the La Huerta copper project in Mexico. It covers approximately 11,300 hectares and is a new copper discovery in the promising Sierra Madre belt. The latest drilling results are extremely positive (for example, 2.26 percent copper and 6.29 grams of silver per ton of rock, as well as a 4.2-meter section with 3.69 percent copper and 9.33 grams of silver per ton of rock). The company recently acquired Sapuchi Minera and the San Antonio gold project in Mexico, which is at an advanced stage.

Mogotes Metals – https://www.commodity-tv.com/ondemand/companies/profil/mogotes-metals-inc/ – is in the exploration and development stage and owns copper and gold projects in the promising Vicuña district in Argentina and Chile. The Filo Sur copper project (Argentina) appears to be particularly promising. A private placement has brought new money into the company’s coffers.

Current company information and press releases from Axo Copper (- https://www.resource-capital.ch/en/companies/axo-copper-corp/ -) and Mogotes Metals (- https://www.resource-capital.ch/en/companies/mogotes-metals-inc/ -).

Further information is also available in our new battery metals report at the following link: https://www.resource-capital.ch/en/reports/view/battery-metals-report-2025-11-update/

Sources:
https://www.wallstreet-online.de/nachricht/20548557-forscher-kupferpreis-verdoppeln-eng;
https://www.resource-capital.ch/en/reports/view/battery-metals-report-2025-11-update/

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