So here’s the deal: America is about to have a serious copper problem, and the solution might be sitting under a bunch of salmon in Alaska. I know, I know – it sounds like the setup to a bad joke, but stick with me.
Copper prices just smashed through $12,000 per ton for the first time, up 40% in the past year. Why? Because AI is basically eating the world’s copper supply for breakfast. Every data center, every electric vehicle, every smart toaster – they all need copper. And according to S&P Global (the people who actually count this stuff), we’re looking at a 10 million metric ton shortage by 2040. That’s not a typo.
Enter the Pebble Mine project in Bristol Bay, Alaska – a place better known for salmon than stock plays. This little operation is sitting on what its owners claim is the world’s largest undeveloped store of copper and gold. Plus molybdenum and silver, because apparently Alaska doesn’t do anything halfway.
But here’s where it gets spicy: the EPA has been blocking this mine since 2014, through three different presidents. Obama said no, Biden said no, and even Trump – Mr. “Drill Baby Drill” himself – couldn’t get it done. Apparently, Trump Jr. wasn’t a fan, worried about the environmental impact on those famous salmon runs.
The mining folks are understandably frustrated. “What they did is not legal,” says Deantha Skibinski from the Alaska Miners Association, referring to the EPA’s preemptive veto before the company even got to the permitting phase. It’s like getting rejected for a job before you submit your resume.
Now, with Trump 2.0 in office and everyone suddenly caring about domestic mineral supplies (thanks, China trade tensions), this mine is back in the spotlight. The locals are making their case: “We need this copper for modern society,” says Lisa Reimers, a local CEO. “We can’t keep depending on foreign companies.”
Here’s the investment angle: if this mine ever gets the green light, it could be massive for copper supply and potentially ease some of the price pressure. But that’s a big “if.” You’re betting on regulatory approval, environmental clearance, and political will – basically a trifecta of things that make investors nervous.
The smart money is watching this closely. Copper is having its moment, and domestic production is suddenly sexy again. Whether Pebble Mine becomes the hero of America’s copper story or remains a political football is anyone’s guess.
But one thing’s for sure: when your iPhone starts costing more because of copper shortages, you’ll remember reading about some salmon and a mine in Alaska. And maybe, just maybe, you’ll wish you’d paid attention to this story a little sooner.