1. Freeport-McMoRan Inc. (FCX):
Freeport-McMoRan ranks first on our list of the top copper stocks on the TSX in 2024. This mining titan is known for its vast mineral reserves throughout the Americas, and with the world’s largest reserves of copper, it is poised for significant growth as we move further into the 21st century. The company is focused on copper, but it also mines for gold and molybdenum. With its recent investments in mining technologies and a conscious effort in adhering to sustainability practices, FCX is a bet for both the present and future.
2. Southern Copper Corporation (SCCO):
An arm of Grupo Mexico, Southern Copper Corporation is the second-largest mining company in the globe focused primarily on copper mining and is also a powerhouse in the zinc, silver, lead, and coal sectors. Its diverse mining interests and stable production capabilities make SCCO a compelling choice for investors. Known for its strong track record of increasing dividends, SCCO has demonstrated a history of delivering investor returns, even in challenging market conditions.
3. Ivanhoe Mines Ltd. (IVN):
Ivanhoe Mines is another top pick on TSX in 2024, with massive mining operations and exploration projects in Sub-Saharan Africa. Particularly, its Kamoa-Kakula project in the Democratic Republic of Congo is predicted to become the world’s second-largest copper mining complex. With a strong focus on sustainability and responsible mining, Ivanhoe has invested heavily in community building in areas where it operates, which further adds to its investor appeal.
4. Turquoise Hill Resources (TRQ):
This Canada-based miner has tremendous potential due to its excellent extraction capabilities and involvement in the development of the Oyu Tolgoi copper-gold mine in Mongolia, thought to be one of the world’s most promising copper and gold deposits. While dependent on the Mongolian economy and the commodity markets, TRQ’s potential for returns is impressive thanks to its exceptional mineral wealth.
5. Lundin Mining Corp. (LUN):
Lundin Mining makes it to the top five due to its strategically diversified operations across the Americas and its aptitude for effective and efficient mining. Its Candelaria mine in Chile is one of the largest copper deposits in the world, and its other operations have shown consistent growth in mineral production. Coupled with a firm commitment to sustainability, Lundin Mining presents itself as an attractive investment choice in the copper sector.
All of these stocks offer unique opportunities to gain exposure to the growing demand for copper as the world continues to industrialize and seek cleaner energy sources. Each is a worthwhile investment thanks to their robust asset bases, a track record of reliable operations, strong financial performance, and commitment to sustainable and responsible mining practices.
