Copper will outperform gold and silver, could hit $30 in the new commodity cycle - Vizsla Copper CEO

Vizsla Copper CEO Craig Parry argues the current commodity cycle is likely to be led by copper rather than gold or silver, with the metal potentially outperforming both this year and, in his view, reaching as high as $20-$30/lb by the end of the decade if supply fails to respond. He cites a structural deficit driven by electrification, green energy buildout and infrastructure spending, alongside a lack of new mine supply and rising project development costs. Parry contrasted today’s setup with the prior supercycle, when copper rose roughly sixfold from about $0.70/lb to $4.60/lb. He said the demand case is now broader than the early-2000s China-led cycle, while major producers are struggling to maintain output and roughly $200bn of investment would be required to meet future demand. He also flagged silver as a beneficiary of solar demand, with limited supply growth, and reiterated that gold remains underpinned by central bank buying and geopolitics despite consolidation after touching $5,600/oz earlier in the year. For precious metals traders, the key takeaway is relative rotation: the interview is more bullish on copper/mining equities than on near-term gold upside, while still constructive on gold and silver over the medium term. Parry expects mining equities to re-rate over the next 12-18 months as earnings catch up and capital returns, but the piece offers no fresh market data beyond his price views and sector call. The article is also truncated, so the final section of Vizsla’s project update is incomplete.