The foundation of the last metals supercycle (2002 - 2011) was the rapid industrialisation of China… new cities, skyscrapers, railways, cars, power grids and the mass creation of a new middle class. Back then, it was a DEMAND story. The supercycle we are in today, is bigger, more global… and what makes it different is that it’s a SUPPLY story. The economies that will be left behind are those that are unable to secure their own critical minerals supply chain. The statement made in this article by Canada’s Natural Resources Minister, Tim Hodgson, comes after @BloombergNEF’s forecast that copper needs $332 BILLION of new mine investment to avoid a deficit starting in 2028… otherwise we face a shortfall of about 20 million tonnes (44% of demand) by 2050. We are in discussions with other authoritative sources that tell us that the @Bloomberg estimate is significantly too conservative. We will bring attention to these studies when they are published. New mines take decades and decades to find, permit, finance AND THEN build. One major obstacle for projects, especially those located in western economies, is permitting. Unfortunately, there is no quick fix... and permitting should not be rushed. At least, the growing panic for metals is forcing into public debate the topic of where ON EARTH these metals will come from. As they say at the Colorado School of Mines: Earth first... we will mine the other planets later.