Due to its diverse nature, it makes sense that the metal would always be highly sought-after. However, a recent a surge in demandâthanks in part the renewable energy and electric vehicles sectors that continue to boomâcombined with a shortage of the raw material, has made copper extremely valuable.
If you’re looking to capitalize on the soaring copper industry, here are some of the best stocks to invest in right now.Rio Tinto (ASX:RIO) $170B
London-based mining giant Rio Tinto (ASX:RIO) has operations all over the world and mines everything from aluminum, silver, and diamonds, to, yes, copper.
The company’s solid business model has stood the test of time and its mines, especially its locations in Arizona and Western Australia, are positioned for exciting growth in the immediate future.Pampa Metals (CSE:PM) $19.59M
Looking to invest in an early stage copper company? Pampa Metals (CSE:PM) owns eight projects in northern Chile, spanning over 59,000 hectares of proven copper and gold mineral belts. Chile is the worldâs biggest copper provider, this could give Pampa huge upside opportunity.
Pampa is one of the few junior companies with access to Chileâs coveted copper resources, making it a stellar investment for those wanting to get in early on the copper space. Further, the company’s board has over 100 years of deep knowledge and experience in the exploration and mining business in South America, Europe, and Australia.
With this massive growth potential Pampa Metals could become very lucrative and rise up as a major player in the mining space.Freeport-McMoRan Inc. (NYSE:FCX) $53.41B
Freeport-McMoRan (NYSE:FCX) is a Phoenix-based mining company that smelts and refines copper concentrates. It also that mines and mills copper, gold, silver, and is in charge of mineral exploration and development.
Freeport recently finished its Lone Star copper leach project and is on track to make 200 million pounds of copper over the next year. It’s also looking at enhancing the site, putting efforts into studies and research into its massive sulfide resources. Shares of Freemony have skyrocketed 112.4% over the past six months.Southern Copper Corporation (NYSE:SCCO) $57.29B
Southern Copper Corporation (NYSE:SCCO) is another mining company based out of Phoenix, AZ. With the largest amount of copper reserves in the industry, it’s one of the most sought-after companies to invest in in the copper space. Southern Copper also has a leading-edge because itâs moving into the Peru mining gameâa country with a total of 13% of the worldâs copper, the world’s second-largest producer of the red metal.
*Market Cap reflective as of April 14, 2021