Copper is a major industrial metal used in wires and cables because it conducts electricity and heat well and also in plumbing and construction because it’s durable and resists corrosion.
The price of copper is close to its all-time high after breaking the $11,000-per ton mark in May 2024. Copper mining companies become more profitable when the price of copper rises. With Canada being a major producer, we looked at some copper stocks on the Toronto Stock Exchange (TSX) that could benefit the most.
The brownish-red metal has been in high demand recently as governments have been pushing the use of green energy, in particular setting targets for more electric vehicles (EVs) on the road. The typical EV uses four times as much copper as a combustion-engine car. China, the largest consumer of copper, has also been purchasing more of the commodity.
These five Canadian mining stocks traded on the TSX could benefit from…
