Trade specialists contemplate copper the “purple gold” for its excessive financial worth. A purple gold rush is underway in 2026, pushed by the build-out of synthetic intelligence (AI) information centres and infrastructure, in addition to large energy grid expansions.
Three Canadian miners are main gamers within the purple gold rush. Hudbay Minerals (TSX: HBM) and Capstone Copper (TSX:CS) have delivered large returns over the previous yr. Teck Assets (TSX:TECK.B) has superior considerably from year-end 2025.
Supply: Getty Photographs
Industrial spine
Gold and silver costs proceed to rise to report highs in 2026 as a result of escalating geopolitical tensions and financial uncertainties. Copper advantages from surging demand from AI information centres and grid modernization. As soon as a mere commodity, the reddish-orange steel has reworked into an industrial spine.
In November 2025, the U.S. Geological Survey (USGS) added copper to the listing of essential minerals. The European Fee did so in March 2023. The purple steel at the moment trades at US$12,500 per metric ton, however a provide scarcity might push the value greater.
Secure copper producer
Hudbay Minerals boasts long-life mines and a sturdy pipeline of copper progress initiatives in Canada, Peru, and the US. The $8.7 billion copper-focused mining firm mentioned copper is among the many world’s most closely consumed metals, and demand is just going to develop.
Efficiency-wise, HBM is up +31.2% yr thus far. At $35.74 per share, the trailing one-year worth return is +254.4%. The three-year whole return is +451.8%. Hudson’s progress catalyst is its Copper World challenge in Arizona. This three way partnership with Mitsubishi Company (70/30) is anticipated to supply 85,000 tons of copper yearly for 20 years.
Report manufacturing
Capstone Copper achieved a report annual copper manufacturing of 224,764 tonnes final yr, setting a robust basis for 2026. The $9.6 billion firm has working mines in Chile (2), Mexico, and the US. All are pure-play copper belongings.
In accordance with its president and CEO, Cashel Meagher, 2025 was an inflection level for Capstone. He cites transformational copper progress delivered by a number of key catalysts. The yr additionally marked 4 consecutive years of report consolidated copper manufacturing.
Within the first three quarters of 2025, adjusted web earnings climbed 103% yr over yr to US$85 million. At $13.75 per share, present buyers take pleasure in a +68% one-year return.
“Merger of equals”
Teck Assets’s copper enterprise, not zinc operations, is the first earnings driver. In December 2025, the $29.4 billion diversified pure sources firm introduced that shareholders overwhelmingly authorised the proposed merger with U.Okay.-based mining big Anglo American.
The so-called “merger of equals” goals to create a world top-five copper firm that may ship enduring advantages for Canada. In 2025, Teck’s revenue reached $1.4 billion from a web lack of $467 million in 2024. Its president and CEO, Jonathan Value, mentioned profitability in This fall rose 41% yr over yr to $544 million as a result of greater copper costs.
TECK.B trades at $81.02 per share, a 23% surge from year-end 2025. Market analysts’ 12-month excessive worth goal is $104. The copper inventory additionally pays a modest 0.61% dividend.
Robust tailwinds
Copper is a key element in rising applied sciences. Rising world demand and shortage of the purple steel are robust tailwinds for Hudson Minerals, Capstone Copper, and Teck Assets in 2026. Potential buyers acquire publicity to a necessary aspect of contemporary life.