Commodity Supercycle 2.0: AI Infrastructure, Critical Minerals, and the Nevada Opportunity

In this episode we speak to Simon Catt, Director at Arlington Group and Founder of Catt Call as we take a closer look at some of the investment themes currently shaping the mining sector.

We discuss the growing importance of US government funding for critical minerals, including the Springer Tungsten project in Nevada, and whether US-based projects now deserve a valuation premium.

We also turn to Nevada’s gold and silver sector, looking at companies including Hycroft, Mackay and StrikePoint, before moving on to tin, Metals X and why this often-overlooked commodity could become increasingly important. 

And finally, we ask the bigger question: where are we today in Commodity Supercycle 2.0?

KEY TAKEAWAYS

Driven by massive capital expenditure in AI and compute data centers, this commodity cycle demands unprecedented supplies of "energy metals" like silver, copper, and tin, alongside defense-critical elements like tungsten.

Blue Moon’s integration into the U.S. defense supply chain alongside Elmet highlights the powerful valuation premium awarded to strategic domestic assets backed by government funding.

Nevada continues to anchor North American precious metals production, offering major upside through high-grade exploration, asset consolidation, and potential corporate restructurings from majors like Barrick.

Critical structural deficits and rapid electrification trends suggest that gold, silver, copper, and tin remain in the earlier, high-potential phases of their multi-year supercycle

BEST MOMENTS

"This cycle, of course, is driven by the commodity of the age, which is the tokens we use in our large language models, our AI... What AI needs is it needs energy metals and it needs energy."

“How do you get access to the biggest pool of money on Earth, the United States government? And I think the answer is to work out what the United States government wants and needs."