Globalisation as we know it is over. While it has been slowing since the late 2000s, the recent use of geopolitical and economic leverage by countries in which critical mineral production is concentrated has prompted others to reshore so as to insulate supply chains. As global powers like the US shift their focus toward national security, commodities are set to assume greater strategic importance, which we see as a tailwind for these markets and their stakeholders.
Portfolio Manager, Ben Cleary, discusses below the strategic importance of copper, rare earths and uranium in a de-globalising world. He also provides insight into the effects of escalating Sino-American trade tensions on precious metals such as gold. The Tribeca Global Natural Resources Strategy remains materially exposed to high-quality producers, developers and explorers of these metals, providing diversified leverage to the thematic of de-globalisation.
Please find his full report at the link below.