According to Robert Wares, President of Osisko Metals, copper prices will remain high in the coming years due to a combination of limited supply and increased demand, which will also benefit copper mining companies at all stages of development and production.

Wares stated that due to copper being a key metal, the demand growth brought about by electrification will be the main driving force behind future increases in copper prices.

Wares said, "The growth will mainly come from the increase in demand for the power grid network. If we want to achieve global decarbonization, whether it is the transportation industry, energy production, or energy storage, copper is indispensable. Independent analysts almost unanimously believe that by 2050, copper production needs to double to meet demand. It is almost impossible to double the global production from slightly less than 30 million tons to 60 million tons

Wares agrees with the expectation that global copper supply will experience a shortage by 2025, and he believes that this situation will continue for at least five years. He said, "This should naturally translate into higher spot and futures prices, but it's not helpful for supply. You still need to go through the approval process, which takes time, so I don't think there will be significant global production growth for at least five years, which will lead to serious supply shortages. I don't know how Western economies or the global economy will respond, because such a long-term shortage has never happened before

Looking ahead, Wares stated that Osisko Metals is currently developing new resource and geological models for its Gaspe Copper project, which is expected to be completed by the end of this year. He said, "I think this will be very positive news for the market, and by 2025, it will drive a lot of drilling work. I believe that in the market environment of rising copper prices, we can also expect a significant increase in resource reserves

Wares is also very optimistic about next year's copper prices and their impact on project development.

He said, "I think copper prices will remain healthy, and I can easily see copper prices exceeding $5 per pound. Copper prices have been stable above $4 for some time now, and we can expect $4 to become the base support price for next year. If copper prices remain between $4 and $5 next year, it will only be the beginning of a long-term bull market cycle. The timing will be very good, and we will ride this wave. Investors should seriously consider investing in some promising copper projects