In every era, there’s one commodity that quietly dictates the balance of economic power. In the 1970s, it was oil. Today, it may well be copper. When BHP Group (BHP) walked away from its $49 billion bid for Anglo American (NGLOY) earlier this year, Wall Street treated it as just another M&A soap opera—antitrust risk, deal structure, board politics. But that’s the sideshow. The main event is this: the world’s largest miners are scrambling for long-term copper supply. And they’re doing it before most investors have even woken up to the problem. Copper doesn’t have the meme glamour of AI or the cocktail-party appeal of ... (full story)