Could Buying Freeport-McMoRan (FCX) Stock Today Set You Up for Life?
Demand for copper is growing rapidly, as it's used in data centers, wind turbines, and electric vehicles.
Overview
It's a good time to be a copper investor. Copper is needed for data centers, and data centers are proliferating across the U.S. Copper is needed for wind turbines, too, and electric vehicles reportedly use up to four times as much copper as traditional cars. The International Energy Agency (IEA) is estimating that global copper demand will jump some 17%, from 26.7 million tonnes in 2024 to 31.3 million tonnes by 2030.
Could investing in a copper-mining company set you up for life? How about Freeport-McMoRan (NYSE: FCX)? It describes itself as "dedicated to positively contributing to society by supplying the world with copper -- Responsibly, Reliably and Relentlessly." It sports a portfolio of long-lived copper assets around the world. (It also produces gold and molybdenum, but its primary focus is on copper.)
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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