Benchmark copper has surged into record territory above US$14,500 a tonne this week, and talk of US$15,000 copper is no longer particularly exotic.
It marks a near 50% rise since September 2025, outstripping golds gains over the past 12 months.
Record copper shows no signs of slowing
Long-term copper demand has been building around grid upgrades, renewables, EVs and now an increasingly power-hungry AI and data-centre buildout.
At the same time, mine supply has struggled. Global mine production fell during the first half of 2026, helping push copper into record territory.
The latest catalyst has been Washington, with President Donald Trump keeping the market guessing on import tariffs.
The US has already imposed tariffs on certain copper products and has considered a phased tariff on refined copper of 15% from 2027 and 30% from 2028, adding another layer of uncertainty to global metal flows.
The latest news has only added fuel to the copper fire.
Figure 1: Copper prices have seen a steady uptrend over the past decade.
For Kingfisher Mining (ASX:KFM), that macro backdrop has arrived while its Copper Blow project near Broken Hill is starting to produce some of its strongest results yet.
Copper Blow has the grade
Kingfisher’s latest drilling at Copper Blow returned:
- 26m at 2.57% copper and 0.75g/t gold from 73m, including 13m at 4.07% copper and 1.20g/t gold.
- 43m at 1.32% copper and 0.32g/t gold from surface, including 17m at 2.46% copper.
- 58m at 0.67% copper and 0.15g/t gold from 165m.
The program also extended high-grade sulphide mineralisation another 50m toward a major cross fault, with the system remaining open at depth and along strike.
That combination matters.
Shallow width gives Kingfisher something potentially mineable, higher-grade zones give it something worth chasing, and deeper mineralisation suggests the system may still have plenty left to give.
Figure 2: Copper Blow – collar locations.
The North Zone is getting harder to ignore
The strongest recent hole delivered 26m at 2.57% copper, including 4m at 7.06% copper and 2.38g/t gold.
Another hole produced 43m at 1.32% copper from surface.
Importantly, several of the strongest intercepts came from areas previously considered to have limited mineralisation potential.
That is exactly what an explorer wants to see when it is trying to grow an inventory.
Kingfisher now has mineralisation defined across roughly 600m of strike, with the deeper drilling confirming meaningful width down dip.
Broken Hill gives Kingfisher a shortcut
Copper Blow sits around 20km southeast of Broken Hill.
More importantly, Kingfisher already has a mining and processing agreement with joint venture partner Broken Hill Mines, whose concentrator sits just 20km away.
That gives the project a potential development advantage many juniors spend years trying to create.
Instead of beginning with a blank sheet of paper, Kingfisher has nearby processing infrastructure to work with if the resource and economics stack up.
What comes next
Kingfisher is integrating the latest assays into its geological model and preparing the next major drilling campaign, including diamond drilling aimed at supporting a maiden Mineral Resource Estimate.
Metallurgical work and additional undercover geophysical targets are also moving forward.
With coppers latest boom, the market backdrop could hardly be giving Kingfisher a better invitation to go find more of it.
