Cassiar Gold Corp. (TSXV: GLDC, OTCQX: CGLCF)
Revitalizing the Cassiar Gold District in British Columbia, Canada
Precious metals gold and silver have attracted the attention of investors due to their outstanding performance recently. However, there is another area that is worth the attention of Canadian investors, and that is copper. In comparison to precious metals, copper may seem less glamorous, yet the future growth potential of copper is equally substantial, and more importantly, copper has a wider range of applications.
As the most essential industrial metal, copper is widely used in construction, electronics, transportation, and infrastructure projects. With global economic growth continuing, particularly in emerging markets where infrastructure development is flourishing, the demand for copper is expected to remain robust.
Moreover, the transition to renewable energy sources such as solar and wind power requires significant amounts of copper for electrical wiring and other components. As countries worldwide commit to reducing carbon emissions and investing in renewable energy infrastructure, the demand for copper is set to increase further.
Copper mining requires significant capital, manpower, and even construction periods of several decades, often requiring substantial investment in exploration and development. Additionally, many existing large-scale copper mines are facing declining ore grades, which means more effort and resources are needed to extract the same quantity of copper. This could lead to supply constraints and support higher copper prices. That’s why these three copper mining stocks are excellent choices for investors seeking long-term growth.
Lundin Mining (TSX:LUN) focuses about 60% of its production on copper mining, the company reported strong performance last year, and has even higher expectations for the upcoming year. Lundin has a strong industry position and saw a 55% increase in its stock price on the Toronto Stock Exchange (TSX) last year. The stock is currently trading at around $16 per share, with significant upside potential and is considered a top choice among Canadian copper stocks.
Capstone Copper (TSX:CS) was one of the best-performing stocks on the TSX last year, focusing on copper mining production. The company operates in North and South America and produced 164,353 tons of copper in 2023. Its flagship project this year is the Mantoverde development project, with expected further production growth in the future. Despite a 57% increase last year, Capstone is currently priced at only $10.15, making it another top consideration among Canadian copper mining stocks.
Taseko Mines (TSX:TKO) is the lowest-priced stock among these three. The company mines various minerals but focuses primarily on copper. After years of continuous expansion, its Gibraltar mine produced 123 million pounds of copper in 2023, with expected continued high production in 2024. The stock price increased by 56% last year and is currently priced at 3.60 Canadian dollars per share, remaining attractive to investors.
