Today’s episode is a wide-ranging conversation with Paulo Macro. Paulo’s been sharing some fantastic and thought-out views on many commodities, as well as his all-encompassing that we’re in a new supercycle. He details and expands upon these ideas, while we quiz him on copper, uranium and energy, where he shines a light on the key features to watch out for as markets grind or burst higher. Stocks covered: SFR, FCX.NY, HBM.TO, IVN.TO, FM.TO, CSC, TGB.NY, ALDE.C, CCJ.NY, URA.NY, UEC.NY, NXG, U.U, YCA.L, VAL.NY, SDRL.NY Follow Paulo's substack here: https://substack.com/@paulomacroThis was recorded on 13.11.2025. …………… TIMESTAMPS (00:00) — Episode introduction & global economy unsynchronization(00:40) — Supercycle and China bull market discussion(02:30) — China's demand and commodity cycles(04:10) — Rise of commodities as an asset class(06:10) — Supply constraints and commodity price appreciation(09:10) — Commodity price spikes: gas, nickel, oil, uranium, copper(12:20) — Active vs. passive investing in commodities(14:30) — Copper supply story and price ranges(19:30) — Asia vs. West economic cycles & metals demand(21:30) — Mining M&A and cycle phases(30:40) — Copper mine disasters and market impact(40:00) — Uranium market and NextGen discussion(50:30) — Uranium market strategies, Cameco, and NextGen(1:00:00) — US uranium policy, strategic reserve, and market speculation(1:06:00) — Oil market: 2026 outlook, OPEC, and global supply(1:16:00) — Oil equities, hedging, and US production(1:22:00) — Episode wrap-up & final thoughts(1:23:50) — Sponsors, credits, and closing remarks…………… Join 15k+ subscribers to the Director’s Special: one daily email with all the news that matters in mining …………… PARTNERS Thank you to the mining services businesses that make this content possible: Sandvik Ground Support – The only ground support you’ll ever need Focus by Marketech – All your mining news and market needs in one powerful platform | 10-day free trial …………… FOLLOW & CONNECT • YouTube: @MoneyofMine • Twitter / X: @moneyofminepod • LinkedIn | Instagram | Facebook • Travis Ricciardo: @TRAVmoneyofmine • Jonas Dorling: @JDmoneyofmine • Email us Word on the Decline:
[email protected] …………… JOIN THE GROUP CHAT Note: the Messenger group chat has been sunset by Facebook. We have migrated to a Discord server• Join the Money of Mine Discord Server …………… DISCLAIMER All information in this podcast is for education and entertainment purposes only and is of general nature only. Please ensure you read our full disclaimer.
New Zealand