Mining
TSX Venture Bear Market Now 1,000 Days and Counting [Chart]
![[Chart]](https://www.visualcapitalist.com/wp-content/uploads/2015/06/tsxv-bear-market-1000-day-chart.jpg)
TSX Venture Bear Market Now 1,000 Days and Counting [Chart]
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.
Last week, our friends at Palisade Capital, a merchant bank, sent us over a chart breaking up the S&P/TSX Venture Index into its booms and busts since the beginning of 2002. The index, which broadly represents the thousands of companies listed on the TSX Venture exchange, has reached a new ominous milestone.
“The most recent bear market for the TSX Venture began on April 11, 2011 and has now passed 1,000 trading days in length,” said Sean Zubick, Co-founder and COO of Palisade Capital, “That’s more than all bear markets combined since the beginning of 2002.”
The most recent re-wiring of the index was in the aftermath of the Dotcom bubble. This makes it even accurate to say that the current bear market is longer than all other downturns combined in the entire history of the index as we know it.
All previous downturns have occurred over the course of 802 trading days. The current bear market? Now over 1,000 trading days.
The majority of the companies on the index are listed as being in the business of materials (38%) and energy (30%), and these sectors have been in unprecedented slumps. As we previously noted, there is a “miner problem” in that there is a swath of zombie companies that have $2.15 billion of negative working capital on their books.
This type of systematic trouble is not something that gets rectified overnight, and that’s part of the reason the market is in such a mess.
Markets
An Investor’s Guide to Copper in 3 Charts
Explore three key insights into the future of the copper market, from soaring demand to potential supply constraints.
An Investor’s Guide to Copper
Copper is the world’s third-most utilized industrial metal and the linchpin of many clean energy technologies. It forms the vital connections in our electricity networks, grid storage systems, and electric vehicles.
In the above infographic, iShares digs into the forces that are set to shape the future of the copper landscape.
How Much Copper Do We Need?
Copper is poised to experience a remarkable 54% surge in demand from 2022 to 2050.
Here’s a breakdown of the expected demand for copper across clean energy technologies.
| Technology | 2022 (kt) | 2050P (kt) |
|---|---|---|
| Electricity networks | 4364 | 8862 |
| Other low emissions power generation | 93.7 | 142.2 |
| Solar PV | 756.8 | 1879.8 |
| Grid battery storage | 24.6 | 665.2 |
| Wind | 453.5 | 1303.3 |
| Hydrogen technologies | - | 0.22 |
| Electric vehicles | 370 | 3582.9 |
| Other uses | 19766 | 22382 |
Copper is vital in renewable energy systems such as wind turbines, solar panels, and electric vehicle batteries because of its high electrical conductivity and durability.
It ensures the effective transmission of electricity and heat, enhancing the overall performance and sustainability of these technologies.
The rising demand for copper in the clean energy sector underscores its critical role in the transition to a greener and more sustainable future.
When Will Copper Demand Exceed Supply?
The burgeoning demand for copper has set the stage for looming supply challenges with a 22% gap predicted by 2031.
Given this metal’s pivotal role in clean energy and technological advancements, innovative mining and processing technologies could hold the key to boosting copper production and meeting the needs of a net-zero future.
Investing in Copper for a Prosperous Future
Investors looking for copper exposure may want to consider an ETF that tracks an index that offers access to companies focused on the exploration and mining of copper.
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