Natural resources are the foundation of civilization. Every phone, every car, every wire starts with a mine.
Commodity cycles are brutal. The people who survive them — and win — are the ones who buy when everyone is selling.
India has the resources to be the next China. We are sitting on trillions of dollars of minerals we have barely touched.
Oil is the most political commodity on earth. You can’t trade it without understanding geopolitics.
Oil prices are ultimately determined by geology and thermodynamics, not by what traders think on any given Tuesday.
The best commodity trades take years to play out. If you need to see results this quarter, you’re in the wrong business.
Copper is not a commodity. It is civilization. Every wire in every building in every city on earth needs copper. That demand never disappears.
You must know the commodity you are trading better than anyone else in the room. If you do not, leave the room.
We are not a mining company. We are a trading company that happens to own mines. The difference matters enormously.
In commodities, the best time to buy is when nobody wants to. The worst time to buy is when everyone does.
Seasonality is the single most reliable repeating pattern in commodity markets. It exists because supply and demand cycles are real, and they happen at the same time every year.
Copper is the metal of the energy transition. The world needs vastly more of it than currently exists in any pipeline.
In commodities, you must understand your product better than anyone else. There is no room for guessing.