2027 Agenda

What will trigger the next copper super cycle?

Copper demand is rising, yet declining ore grades, project delays, permitting challenges and limited new mine developments are fuelling concerns over future supply. Major producers like Zambia and the DRC are also seeking to capture more value through restrictions on unrefined copper exports. As AI, data centres, electrification, renewables and EVs drive demand, what will trigger the next copper super cycle, and is the current price sufficient to unlock the investment needed to meet future demand?

The big questions 

• Should investors wait for the price signal or position ahead of it? 
• Can African miners build new supply fast enough to avoid a deficit-driven price shock? 
• What could derail the bullish copper story? 
• Can investors understand Africa’s copper opportunity without also pricing in cobalt?

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