EVs will spur copper

Article Excerpt

GLOBAL X COPPER MINERS ETF, $36.19, is a buy. The ETF (New York symbol COPX; buy or sell through brokers; www.globalxfunds.com) lets you track the Solactive Global Copper Miners Index, with 40 global mining and exploration firms. It started up in April 2010. Canadian firms make up 32.9% of the ETF’s holdings. They also include companies based in Australia (11.1%), the U.S. (9.9%), Japan (7.7%), China (7.2%) and the U.K. (6.2%). The fund charges an acceptable 0.65% MER. The ETF’s top holdings include First Quantum, 5.1%; Ivanhoe Mines, 5.1%; Antofagasta plc, 5.1%; Freeport-McMoRan, 5.0%; Zijin Mining, 5.0%; Southern Copper, 4.8%; Polska Miedz SA, 4.8%; BHP Group, 4.8%; Lundin Mining, 4.7% and Glencore, 4.7%. Investors benefit from copper’s strong long-term prospects. That reflects optimism about a post-pandemic global recovery. The rising demand for electric-powered cars —they contain about 80% more copper than gasoline-powered vehicles—is another driver. This fund is a buy. buy…