Copper — the wire behind every GW
Every gigawatt of datacenter power is copper — in the transformer, in the busway, and in the run to the rack.
copper
The price
Nothing collected yet. The price source is verified and named on the shelf below (wb-pink-sheet-metals, fred-copper), and the line appears the first time the collector writes a point. An empty chart is the correct answer until then.
What happened
| Date | Type | What happened | Source |
|---|---|---|---|
| 2026-08-10 | editorial note | Capex figure revised: $1,325.3M → $2.6BCapex moved from $1,325.3M (deep-dive-2026-06-18.md) to $2.6B (deep-dive-2026-08-10.md). | dossier |
| 2026-08-10 | editorial note | Revenue figure revised: 75.9% → 40.6%Revenue moved from 75.9% (deep-dive-2026-06-18.md) to 40.6% (deep-dive-2026-08-10.md). | dossier |
| 2026-08-10 | editorial note | Verdict changed: The world's lowest-cost, longest-reserve, highest-margin copper pure-play — a generational asset wrapped in a Sell-rated price and 88.9% Grupo Mexico control; you want the orebody, n…Before (deep-dive-2026-06-18.md): The world's lowest-cost, longest-reserve, highest-margin copper pure-play — a generational asset wrapped in a Sell-rated price and 88.9% Grupo Mexico control; you want the orebody, not the multiple, and the market agrees. After (deep-dive-2026-08-10.md): The bear case got tested on its own terms and lost — copper +40%, silver +119%, a pro-mining president in Lima and Tía María 42% built — so the thesis is stronger and the discount is gone; what is left to underwrite is not the orebody but a by-product spike doing half the margin work and a dividend increasingly paid in freshly printed shares. | dossier |
This week
No week to compare yet — movers need two stored Fridays, and the record does not hold two for these names.
Exposed companies
| Company | Ticker | Beat | Close | Week |
|---|---|---|---|---|
| Antofagasta | ANTO.L | critical-materials | — | — |
| Capstone Copper | CS.TO | critical-materials | — | — |
| Ero Copper | ERO | critical-materials | — | — |
| First Quantum Minerals | FM.TO | critical-materials | — | — |
| Freeport-McMoRan | FCX | critical-materials | — | — |
| Glencore | GLEN.L | critical-materials | — | — |
| Ivanhoe Electric | IE | critical-materials | — | — |
| Ivanhoe Mines | IVN.TO | critical-materials | — | — |
| Jiangxi Copper | 0358.HK | critical-materials | — | — |
| KGHM Polska Miedz | KGH.WA | critical-materials | — | — |
| Lundin Mining | LUN.TO | critical-materials | — | — |
| McEwen Copper | — | critical-materials | — | — |
| NGEx Minerals | NGEX.TO | critical-materials | — | — |
| Southern Copper | SCCO | critical-materials | — | — |
| Taseko Mines | TGB | critical-materials | — | — |
| Teck Resources | TECK | critical-materials | — | — |
| Zijin Mining | 2899.HK | critical-materials | — | — |
17 on the layer · no Friday closes stored yet
A hand list, not a query: a company carries a beat and no material, so which names are actually exposed to copper is a judgement. Every published miner and refiner is on companies.
What is being collected
series
A dated number. Collected on a cadence; the chart is the record.
| Source | What it is for | As of | State |
|---|---|---|---|
| wb-pink-sheet-metals | price line on each material page | — | not yet collected |
| fred-copper | copper page price line (backup) | — | not yet collected |
| usgs-mcs | annual supply context on every material page | — | not yet collected |
| imf-portwatch-chokepoints | chokepoint-stress line (Suez, Panama, Hormuz) behind materials and equipment lead times | — | not yet collected |
event-log
Dated decisions where the event itself is the record.
| Source | What it is for | As of | State |
|---|---|---|---|
| asx-announcements | quarterly activity reports and announcements per Australian miner — the announced-vs-producing pipeline one stage deeper | — | not yet collected |
| blm-nepa-register | mine permitting clock | — | lead |
Dated ahead
| Date | Company | Period | Firmness |
|---|---|---|---|
| 2026-10-23 | Freeport-McMoRan FCX | 2026-Q3 | expected |
| 2026-10-28 | Southern Copper SCCO | 2026-Q3 | expected |