Lundin Mining (TSX:LUN) in Polaris Global Value Fund Q2 2024

Capitalizing on Rising Copper Prices and Energy Transition Demand

Apr 15, 2025

Summary

Benefited from a 20% increase in copper prices from mid-February to late May 2024.
Strong demand driven by energy transition applications, including electric vehicles and AI.
Potential risks include fluctuating commodity prices and geopolitical factors affecting supply chains.
Contributed positively to the materials sector gains in the fund.
Outlook remains positive with continued demand for copper in green technologies.

In Bernard Horn (Trades, Portfolio)'s Polaris Global Value Fund 2nd-Quarter Letter 2024 Q2, Lundin Mining (TSX:LUN, Financial) was highlighted as a significant contributor to the fund's performance in the materials sector. The company benefited from a notable increase in copper prices, which rose over 20% from mid-February to late May 2024. This surge was driven by tight supply and high demand from energy transition applications such as electric vehicles, as well as AI and automation technologies.

"Copper producer Lundin Mining boosted material sector gains. Copper prices have been on an upward trajectory since the end of 2023, increasing over 20% from mid-February to late May. The contributory cause: tight supply and high demand from energy transition applications such as electric vehicles, as well as AI and automation." — Bernard Horn (Trades, Portfolio), Polaris Global Value Fund, Q2 2024 Fund Letter

Read full letter at gurufocus Bernard Horn's Polaris Global Value Fund 2nd-Quarter Letter 2024 Q2 page.

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