Copper Nears Record Highs: How Glencore, Power Metallic Mines, and Lundin Mining Could Benefit

Lundin Mining: Significant Growth Through Its Own Projects

With a market capitalization of more than CAD 32 billion, Lundin Mining is one of the heavyweights in the copper sector. Under the leadership of the Lundin family, the Canadian-Swedish company has built a portfolio of copper assets spread globally across stable jurisdictions such as Chile, Sweden, Argentina, and Portugal. Unlike established giants such as Freeport-McMoRan or Codelco, Lundin Mining stands out with an organic project pipeline that is unmatched in industry. It controls some of the world's largest undeveloped deposits, such as the Josemaria project in Argentina.

Lundin Mining already benefited significantly from the rise in copper prices in the first quarter. The company will release its Q2 results on Wednesday after the market closes. The market considers it likely that these results will show further growth. A copper selling price between USD 5.90 and 6.20 per pound is expected. In Q1, the company realized a selling price of USD 5.70. It is worth looking at the competition, which has already released its data. For example, Freeport-McMoRan reported a realized price of USD 6.17, while Capstone Copper reached USD 6.22. In addition, Lundin's management had previously announced positive pre-tax price adjustments of approximately USD 79 million for earlier copper and molybdenum shipments for Q2.

Lundin Mining's stock has nearly quadrupled in value within a year since early 2025. It is currently trading about 15% below that peak. For long-term investors, Lundin Mining is an exciting stock that is likely to benefit from the copper boom for a long time to come.

Power Metallic Mines: The Market Awaits the New Resource Estimate

Power Metallic Mines is one of the most exciting developers in the copper sector. The Canadian company is developing NISK, a polymetallic project in the north of the resource-rich province of Québec. Here in the James Bay region, cobalt, nickel, palladium, and platinum are found alongside copper. This makes the deposit particularly exciting in terms of critical raw materials, as Western countries are working to establish supply chains independent of Chinese influence.

Power Metallic Mines has some extremely prominent supporters. Three major players, Robert Friedland, Rob McEwen, and Australian commodities billionaire Gina Rinehart, have all sought to invest in the company. For years now, backed by these names, the company has been aggressively advancing exploration of the project. This year alone, more than 100,000 drill meters are expected to be completed. The latest drill results demonstrate the project's potential. Drill hole 26-116 intersected grades of 2.83% copper equivalent over a length of 36.42 m. This hole is part of the final analysis results from the winter drilling program. These data complete the drill results intended for the company's first mineral resource estimate (MRE). This important study is scheduled to be released at the end of August, according to the company. Based on the data, Power Metallic Mines also plans to present the first preliminary economic assessment (PEA) for the project. This should indicate how economically viable mining could be.

Analysts see significant potential for the Canadian company's stock. GBC Research, for example, has set a price target of CAD 3. Following the correction triggered by the war in the Persian Gulf, the share has been working to find a bottom in recent weeks. With rising copper prices providing a tailwind, a breakout could now be on the horizon.

Glencore: Strong Half-Year Results

Glencore's comeback is in full swing. After several challenging years, the Swiss company has managed a turnaround and is once again turning a healthy profit. Of course, the rise in prices for many commodities is helping. Notably, while copper may be Glencore's most important market, the company is also active in cobalt, zinc, nickel, and coal. Not least, it is one of the world's largest commodity traders.

A look at the half-year results shows that things are going well right now. Revenue rose by a whopping 49% to USD 174.43 billion. The bottom line is that the Swiss company earned USD 4.41 billion, after posting a loss of USD 655 million in the first half of 2025. Both the trading division and the mining operations contributed to this growth.

The sharp increase in operating cash flow, up 158% to USD 8.13 billion, underscores the company's cost discipline. In light of the strong performance, a special dividend of 8.5 US cents per share was approved. In addition, a new USD 500 million share buyback program is in effect through February 2027. So far this year, the company has already distributed nearly USD 3.5 billion to shareholders, following last year's distribution of approximately USD 2 billion.

With its broad geographic footprint, including mines in the Democratic Republic of the Congo and the Andean regions of Peru and Chile, Glencore should continue to benefit significantly from demand. This year, the Collahuasi mine in particular is expected to drive growth. A new seawater desalination plant and the optimization of ore grades are expected to boost production.

In June, following the stock's previously formidable run, there was significant profit-taking. Currently, however, the share is trading less than 10% below its annual high. Long-term investors should take advantage of corrections.

With Lundin Mining, investors are betting on a dynamic giant that is organically driving several growth projects. The stock should react positively to the release of its Q2 results. Power Metallic Mines is one of the most exciting developers in the copper sector. The upcoming release of a resource estimate and a preliminary economic assessment (PEA) could support the stock in the second half of the year. Glencore stands out as a diversified company that benefits from more than just copper price movements.