Rising Demand and Tight Supply Reshape the Copper Market | Tristan Pascal

The discussion centers on the factors driving copper prices, the structural challenges in copper supply, and First Quantum Minerals' strategies. First Quantum Minerals CEO Tristan Pascal explains that while short-term copper prices are tied to GDP outlooks, long-term prices reflect a growing supply-demand imbalance driven by renewable energy, electric vehicles, AI, and data centers. Pascal notes that declining ore grades, rising inflation, and high capital costs hinder new copper projects. He also highlights First Quantum's focus on disciplined growth, the potential of the Taca Taca project in Argentina, and efforts to resolve the situation at the suspended Cobra Panama mine, including ongoing audits and negotiations.