Southern Copper and Freeport-McMoRan Poised to Profit from Copper Boom Amid Deficit and Record Sales

Copper prices are breaking records due to rising demand from electrification, renewable energy infrastructure, AI development, and grid upgrades. To meet 3% GDP growth and additional electrification demands, the world would need to mine the equivalent of the past 10,000 years' production in the next 18 years. Two copper miners, Southern Copper (SCCO) and Freeport-McMoRan (FCX), are well-positioned to benefit from projected copper market deficits and higher prices, with SCCO expecting 2026 revenues of $16 billion and FCX beating Q4 earnings estimates.