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Barrick CEO: Tariffs Won’t Derail Copper’s Supply Crunch Rally

Barrick CEO: Tariffs Won’t Derail Copper’s Supply Crunch Rally

Despite new U.S. tariffs, copper’s long-term outlook remains strong, according to Barrick Mining CEO Mark Bristow. Speaking from Zambia, Bristow acknowledged the short-term price volatility sparked by President Trump’s 50% copper tariff, which caused U.S. copper futures to hit an all-time high.

However, he emphasized that copper demand is still outpacing supply, driven by growth in data centers, clean energy, and industrialization in emerging markets. Barrick is moving forward with a $2 billion expansion of its Lumwana copper mine in Zambia, aiming to double production by 2028 and extend operations through 2057.

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