Commodities in focus: structural shortages, rising demand and new opportunities for investors
On 27 August 2026, the third Lunch & Talk with Earth Resource Investments (ERI) took place in the stylish Haus zum Rüden in Zurich. The event was organised by Fundvalue GmbH. More than 30 participants took the opportunity to find out first-hand about the current developments on the commodity markets and to exchange ideas afterwards over lunch.
Under the title “Time for Raw Materials”, Fabian Erismann, geologist at Earth Resource Investments, presented the company’s current assessment of the opportunities and challenges in the raw materials sector. The presentation focused in particular on the question of whether the raw material cycle is now at a decisive turning point after years of comparatively low investment.
Increasing hunger for raw materials meets scarce supply
A central message of the Lunch & Talk was the increasing structural tension between rising demand and limited supply. Growing global electricity consumption is increasing demand for copper, silver, uranium and platinum group metals, among others, while at the same time supply remains scarce for many commodities. In addition, there are geopolitical risks, rearmament, deglobalization and inflationary pressure.
The situation at the mines is particularly impressive: The presentation shows a lack of a project pipeline and comparatively few new mine projects. At the same time, a significant part of the existing production infrastructure is aging. From the point of view of Earth Resource Investments, this development could lead to a longer-lasting supply bottleneck.
Copper as a key raw material
A special focus was placed on copper, which plays a central role in electrification, grid expansion and increasing demand for electricity. The presentation illustrates the pressure on supply and refers, among other things, to declining production trends at important producers. At the same time, margins in copper mining are at very high levels.
Individual companies and projects were also examined in more detail.
Gold remains strategically interesting
Gold and silver were also in the spotlight. ERI sees gold not simply as a classic commodity, but as a strategic asset. Important factors cited include central bank purchases, geopolitical uncertainty and declining confidence in fiat currencies.
At the same time, it was shown that commodity stocks were valued relatively low for a long time despite the strong performance of individual commodity prices. The combination of capital discipline, high cash flows and a lack of new projects could continue to provide tailwinds for the sector, according to ERI.
“The next chapter in the commodity bull market?”
Finally, Earth Resource Investments dared to look ahead. The core thesis: Underinvestment meets structurally increasing demand – and supply could remain the decisive bottleneck. Commodities could thus gain in importance not only as a source of returns, but also from a diversification, inflation protection and geopolitical point of view.
The 3rd Lunch & Talk of Fundvalue and Earth Resource Investments once again offered an exciting combination of in-depth market analysis, concrete insights into companies and projects as well as personal exchange among the participants.
Many thanks to Fabian Erismann and Earth Resource Investments for the exciting insights and to all over 30 participants for the interesting exchange.
Note: The assessments and examples mentioned are from the presentation of Earth Resource Investments. They do not constitute an individual investment recommendation. Historical performance is not a reliable indicator of future results.