‘It’s now the metal that is allowing us to advance into a greener future’
Copper is central to electrification and therefore the energy transition, and Canadian investors now have a new way to gain exposure: This week, Toronto-based Horizons ETFs Management (Canada) Inc. launched the country’s first exchange-traded fund indexed to a bundle of copper miners.
Prices of the versatile base metal have more than doubled since March 2020, rising to about US$4.20 per pound from US$2.20 per pound, according to market research site Kitco.
“Copper is the one metal that’s really allowed humankind to advance from the Stone Age to the Bronze Age and it’s now the metal that is allowing us to advance into a greener future,” Steve Hawkins, chief executive of Horizons ETFs, said in an interview. “It’s in almost everything and so it gives you exposure to all major investment themes.”
The metal has so many uses that it has been described as a bellwether for global economic expansion. As the energy transition unfolds, and some of the world’s largest economies set targets to reduce the use of fossil fuels, demand for copper, one of the main metals used in wires, is expected to surge.
For the rest of this article: https://financialpost.com/commodities/mining/horizons-etf-management-adds-copper-miners-to-its-menu-of-investment-funds