America is running out of copper. And with artificial intelligence, electric vehicles, and battery storage, the electrical grid is already being pushed to its limits. And each one depends on copper. Unfortunately, according to S&P Global, demand for the metal is expected to rocket 50% from current levels to more than 42 million metric tons by 2040.
All while supply shrinks. All of which could lead to a shortfall of about 10 million tons, which is a “systemic risk for global industries, technological advancement and economic growth,” added S&P Global. “The future is not just copper-intensive, it is copper-enabled. Every new building, every line of digital code, every renewable megawatt, every new car, every advanced weapon system depends on the metal.”
To alleviate that pressure, we need more copper mines.
Unfortunately, there’s a problem there, too. That’s because it takes about 17 years on average for a new mine to yield copper after discovery.
But we don’t have that kind of time to wait for fresh supply. We need it now, which means that any company with access to any copper will benefit.
Southern Copper Offers Long-Term Growth and Income
Since bottoming out at around $40 in 2022, Southern Copper (NYSE: SCCO) is now up to $172 after testing a high of $203. Fueling a good deal of upside, Southern Copper is one of the world’s largest, low-cost copper producers. Plus, Southern Copper’s longer-term growth opportunity is in opening new copper mines, with one set to open in 2027 and another in 2028. With SCCO, not only can we capitalize on copper demand and stock appreciation, but also on its dividend. Most recently, the company paid out $1 per share on April 23.
Freeport-McMoRan Remains a Copper Giant
Freeport-McMoRan (NYSE: FCX) recently tested a high of $72,28. Now back to $60.27, we’d like to see it retest prior highs. The copper giant owns stakes in 10 copper mines, led by its 49% ownership in Grasberg operations in Indonesia. It also sold about 1.1 metric tons of copper in 2025, making it one of the biggest copper miners by volume in the world.
Analysts at Goldman Sachs just initiated a buy rating on the stock with a price target of $70. Analysts at Jefferies just reiterated a buy rating on FCX with a price target of $76, noting that FCX plans to restart parts of the Grasberg project.
Copper ETFs Provide Diversified Exposure
We can gain even more exposure to copper with exchange-traded funds (ETFs), such as:
Global X Copper Miners ETF (NYSE: COPX)
COPX offers targeted exposure to companies involved in copper mining around the world. With an expense ratio of 0.65%, COPX holds about 40 copper-related companies, including Lundin Mining, Glencore, Southern Copper, BHP Group, Freeport-McMoRan, Ero Copper, and Taseko Mines. COPX provides investors with direct leverage to rising copper prices while spreading risk across multiple producers and jurisdictions.
iShares Copper and Metals Mining ETF (NASDAQ: ICOP)
Another diversified option is ICOP. With an expense ratio of 0.47%, ICOP offers exposure not only to copper miners but also to companies producing other key industrial metals. Its holdings include Newmont, Teck Resources, along with BHP Group, Freeport-McMoRan, and Lundin Mining.
Why Copper Still Looks Bullish
The bottom line: copper is entering a new era of strategic importance. With demand exploding from electrification, AI infrastructure, and grid expansion — and supply struggling to respond — the stage is set for a potentially powerful multi-year bull market.
