Copper just set a fresh all-time high. This week, futures contract touched $6.71 a pound on COMEX, its highest price ever, up about 18% on the year, as tariff-driven buying in the United States met a tightening supply picture everywhere else. The price now sits just below the $7 a pound 2026 Prinsights forecast.
However, for investing in a mining developer, price is only one of many factors to consider. Management, jurisdiction, and support at the national and local level all combine to determine whether a project can actually get built. For the past year, we have focused on Argentina as a key government that has moved rapidly to support mining.
And this July, Argentina approved the single largest mining investment in its history, a $9.7 billion copper development, under the framework that has made Argentina one of the world’s most important new destinations for copper investment. That is the backdrop for this month’s Founders+ recommendation to our model portfolio.