Warren Buffett is sitting on $325 billion in cash – his largest hoard ever.
Not because he wants to – but because he can’t find value in the usual places.
Now, as US government spending spirals out of control, Buffett knows he’s losing billions of dollars to inflation.
That’s why I predict Buffett’s next investment will catch millions of people off guard.
It’s not another bank… railroad company… or more shares of Apple.
It’s a gold company. How do I know?
Because the math doesn’t lie:
You can buy the average gold developer for $30 and get back $13 a year —
That’s a 43% ROI annually.
Over 10 years, that’s $130 on a $30 investment.
Tell me where else Buffett can get that.
But there’s one specific miner Buffett likes best:
- It’s the best-managed major gold miner in the industry…
- Has massive cash flow…
- Is trading at a deep discount to fair value…
- Positioned at the heart of Trump’s new mining push…
Don’t wait for Buffett to reveal his position in his 13F filing on February 17th…
Right now, you have the chance to front-run the greatest investor of all time. Go here and I’ll give you the name and ticker – along with details on my top four small miners.
To your wealth,
Garrett Goggin, CFA, CMT
Chief Analyst & Founder, Golden Portfolio
P.S. A lot of investors write in to tell me how much they’ve made in Bitcoin. My reply? Good for you. First off, gold investing is cyclical. You really only want to own gold at one specific time in the cycle. That time is now. Second, the world’s governments are not buying Bitcoin. They’re betting on gold. All of them. Bitcoin (does anyone really know for sure the US government didn’t create it?) will be a good bet… until it isn’t. It may end up doing great. Or it may be eclipsed by any number of tech developments.
Meanwhile, gold will continue to do what it’s done for almost 6,000 years of recorded human history: Protect wealth through chaos. Go here if you want the name and ticker of Buffett’s likely gold play… and details on my top four miners
Digging Into Demand: Copper's Scarcity Premium Is Rising
Author: Jeffrey Neal Johnson. Posted: 1/29/2026.
What You Need to Know
- The explosive growth of artificial intelligence data centers is driving an unprecedented surge in copper demand.
- Major mining producers are utilizing new leaching technologies to extract additional value from waste rock stockpiles without digging new mines.
- Investors can access this structural growth trend through diversified funds that offer broad exposure to global producers rather than single stocks.
Gold and silver have dominated financial headlines for the last 18 months. Driven by central bank buying, geopolitical instability, and global economic uncertainty, precious metals provided a necessary shield for investors seeking safety. However, as the calendar turns to February 2026, the market narrative is shifting: the defensive trade is giving way to a growth trade, and copper is leading the charge.
Currently testing the $5.85 to $6 per pound range (approximately $12,900 per metric tonne), copper is decoupling from traditional industrial cycles. In previous decades, copper prices moved in lockstep with construction and GDP trends—when housing slowed, copper fell. That correlation is breaking now. Two price-insensitive drivers are powering demand: electrification of the global power grid and the massive energy requirements of artificial intelligence (AI).
They just tried to kill gold (Ad)
Gold Crashed 17% in 48 Hours
$5,608 to below $4,700.
Silver dropped 31%. The worst day since 1980.
The media called it "profit-taking."
I call it what it is: a coordinated ambush.
Today's copper story is about more than building electric vehicles. Data centers running advanced AI models consume far more power than traditional server farms. That infrastructure needs vast amounts of copper for cabling, transmission lines, transformers and grounding systems. At the same time, global copper supply is constrained by aging mines and a shortage of new discoveries. The resulting supply-demand imbalance creates a setup unlike any previous cycle for investors.
Freeport-McMoRan: Capturing the AI Demand Wave
For investors looking to capitalize on the sheer volume of copper required by the AI transition, Freeport-McMoRan (NYSE: FCX) stands out as a key beneficiary.
As one of the world's largest publicly traded producers, Freeport's stock price is highly sensitive to the spot price of copper.
Unlike diversified miners that also sell iron or coal, Freeport is effectively a pure copper play. When copper prices rise, Freeport's profit margins expand materially.
This leverage showed up in the company's recent fourth-quarter earnings report released on Jan. 22, 2026.
Freeport reported earnings per share of $0.47, beating analyst estimates of $0.28.
Revenue also came in strong at $5.63 billion. Those numbers confirm that theoretical demand from tech and infrastructure sectors is translating into real cash flow.
Innovation Through Leaching
Beyond traditional mining, Freeport is deploying a strategy that sets it apart: leaching technology. Developing a new mine can take more than 15 years because of permitting, environmental reviews, and construction. Freeport, however, holds large stockpiles of waste rock from decades of prior mining.
By applying new, proprietary leaching techniques to those stockpiles, the company can extract residual copper that was previously uneconomical to recover. This approach brings additional copper to market without the capital expense or decade-long delay of opening a new mine. It's an efficient way for a major producer to help meet the immediate supply squeeze driven by the AI boom.
Navigating Supply Constraints
Investors should note that Freeport is managing challenges at its Grasberg district in Indonesia following a mudslide in late 2025. While this has temporarily limited production, it paradoxically supports the bullish thesis: removing that supply from the global market helps keep copper prices elevated, which in turn boosts the profitability of Freeport's North and South American operations.
Southern Copper: The Value of Scarcity
While Freeport represents producers well positioned to capture AI-driven demand, Southern Copper Corporation (NYSE: SCCO) illustrates the value of scarcity.
In mining, reserves—the amount of metal in the ground that is economically viable to mine—are the ultimate asset. Southern Copper holds the largest copper reserves of any publicly listed company.
As permitting for new mines becomes more difficult amid stricter environmental rules and local opposition, companies with existing, approved projects command a premium.
Southern Copper is capitalizing on this with its massive Tía María project in Peru.
Project Progress and Income
After years of delays, Tía María is finally under construction and was approximately 25% complete as of early 2026. That progress is a key differentiator. While competitors still hunt for deposits or fight for permits, Southern Copper is building one of the few large-scale supply sources scheduled to come online in the near term—an advantage as the global supply cliff approaches.
Southern Copper is also attractive to income-oriented investors. The company recently declared a quarterly dividend of $1 per share. In the volatile world of commodities, that payout is a meaningful bonus, providing steady yield while Tía María ramps toward full production. The firm faces political risks common in Latin America, but its low-cost operations in Mexico offer a financial cushion that helps support the dividend.
How to Invest Without Picking Winners
Investing in individual miners carries company-specific risks that the metal itself does not: a single mine collapse, labor strike, or change in local tax policy can hurt a stock even as copper prices rise. For investors who want to back the copper thesis—that prices will rise because of shortages—without taking on stock-specific risk, exchange-traded funds (ETFs) offer a sensible alternative.
- Global X Copper Miners ETF (NYSEARCA: COPX): This fund provides broad diversification, tracking roughly 48 miners globally across Canada, Latin America and Australia. It's a solid option for investors seeking wide exposure to the sector and protection if one miner suffers a setback.
- Sprott Copper Miners ETF (NASDAQ: COPP): This fund takes a more concentrated approach and tends to overweight large-cap, pure-play miners like Freeport-McMoRan. If the major producers rally, COPP is positioned to capture that upside more directly than a broader index.
The Structural Floor for Copper
The current copper rally is fundamentally different from speculative surges in cryptocurrency or the fear-driven buying of gold. It is built on utility and necessity. The world cannot scale AI data centers, electric vehicles, or renewable power grids without copper—and there is no practical substitute.
With prices testing historical highs and supply constraints deepening, copper appears to have established a structural floor. Whether investors choose volume leaders like Freeport-McMoRan, reserve giants like Southern Copper, or diversified ETFs, the evidence points to a multi-year opportunity for the copper sector. For those who missed the initial precious-metals move, copper offers a strategic entry into what could be the most durable phase of this commodities cycle.
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