“Big Money Is Eyeing Metals Over Oil As Mining Assets Soar”

“…The energy transition is driving the next commodity supercycle, with immense prospects for technology manufacturers, energy traders and investors. Indeed, new energy research provider BloombergNEF estimates that the global transition will require ~$173 trillion in energy supply and infrastructure investment over the next three decades with renewable energy expected to provide 85% of our energy needs by 2050.

But nowhere is the outlook brighter than the metals industry.

Clean energy technologies require more metals than their fossil fuel-based counterparts. According to a recent Eurasia Review analysis, prices for copper, nickel, cobalt, and lithium could reach historical peaks for an unprecedented, sustained period in a net zero emissions scenario, with total value of production rising more than four-fold for the period 2021-2040, and even rivaling the total value of crude oil production…”

https://finance.yahoo.com/news/big-money-eyeing-metals-over-220000838.html

Simply put the transition to different energy sources is increasing demand in the metal markets. Metals are where the action is.