Grasberg Mudslide, Silver Demand and Central Banks Jolt Global Metals Outlook

Gold has rocketed past $3,700/oz and silver is at 14-year highs—but what’s really powering this bull market? In this must-watch Kitco Mining Digging Deep episode, Neil Adshead, Consultant Analyst at Commodity Discovery Fund, breaks down the forces reshaping metals, energy, and critical minerals.

Adshead points to central banks as the marginal buyers driving gold higher, with nations across Asia and Europe stockpiling bullion to hedge against global instability and currency risk. Silver’s surge is no accident either: nearly 60% of demand now comes from solar, electrification, and industry, while investors still treat it as a store of value in an uncertain economy.

The conversation turns to copper, where Freeport’s Grasberg mine faces a historic challenge after an 800,000-ton mudslide, pushing copper above $10,000/tonne ($4.55/lb). Adshead warns that full output may not return until 2027, bolstering developers like Atex with its multi-billion-pound copper-gold resource in Chile.

From U.S. critical minerals policy and the DOE’s proposed 10% stake in Lithium Americas’ Thacker Pass, to G7 and EU rare earth price floors, Adshead explains how government intervention is reshaping global supply chains—and what it means for markets, investors, and national security.

Stay ahead of the metals market with expert insight on gold, silver, copper, lithium, and rare earths—and discover why central banks and policy makers are setting the stage for the next commodity supercycle.

Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.

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