The Copper-Gold Boom: How Rio Tinto, Globex Mining and Franco-Nevada Benefit from the Same Megatrend

The Copper-Gold Boom: How Rio Tinto, Globex Mining and Franco-Nevada Benefit from the Same Megatrend

Copper and gold are both climbing to high levels at the same time. This is a rare occurrence. On the London Metal Exchange, a metric ton of copper most recently cost USD 14,779, while gold is trading at over USD 4,300 per ounce. Central banks purchased 288.9 metric tons of the precious metal in the second quarter alone. At the same time, global copper mine production fell by 1.1% in the first half of the year. It takes 12 to 15 years from discov…