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The largest copper miners are expected to report their lowest annual production in nearly 15 years, according to Otavio (Tavi) Costa.
The portfolio manager at Crescat Capital highlighted a 16% decline from 2024 and pointed out ongoing supply constraints for metals compared to demand, with a concerning future supply outlook.
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Costa has highlighted opportunities in gold miners previously. He noted that gold miners have posted the highest free cash flow yield among U.S. equities. In another analysis, he observed that gold’s recent correction nearly matches the 2008 decline.