Supercycle Ignites: 'New Oil' To Double Soon, Watch Out | Ian Harris

Summary

Ian Harris, CEO of Copper Giant, argues metals are in the early innings of a secular bull market led by copper, which he calls the new oil. He sees AI/data-center and infrastructure demand, supply constraints, and Chinese smelting dominance driving copper toward $10/lb and supporting mining equities, silver, gold, and molybdenum. Harris also outlines Copper Giant's catalysts, valuation, molybdenum byproduct, social-license progress, and expected resource/PEA timeline.

• Harris says copper is the new oil and sees a decade-long secular bull market, with a $10/lb target.
• AI data centers, hyperscaler capex, power infrastructure and deglobalization are framed as major copper demand drivers.
• Supply is constrained by underinvestment, few discoveries, slow development and Western reliance on Chinese smelting.
• He is bullish on mining equities, citing accelerating financings and using GDX/GDXJ as sector proxies.
• Silver is described as industrial-demand-led so far, with investor flows only beginning to arrive; gold is supported by cash leaving fiat.
• Molybdenum is highlighted as a strategic metal with faster price appreciation and better recoveries in Copper Giant's updated test work.
• Copper Giant is presented as undervalued with catalysts including high-grade drilling, metallurgical results, Condorcocha consultation, and an updated resource/PEA by August next year.
• Key risks include election timing, required capital, and project development execution.