"When the AI bubble bursts, silver is Eric Sprott's play" Billionaires position themselves for bubble burst. He's not only one positioning into natural resources. Buffet did it in 2019 by Sogo Shosha.

The Relationship Between Sogo Shosha and Mining Sogo shosha (Japanese general trading companies) play a critical role in the global mining sector. Instead of just buying and selling commodities, they act as major global investors, project developers, and supply chain managers for raw materials. Their relationship with mining is driven by three main strategies: Securing Resource Security: Japan lacks natural resources. Companies like Mitsubishi, Mitsui, and Itochu invest heavily in overseas mining projects (e.g., in Australia, South America, and Africa) to guarantee a stable supply of coal, iron ore, copper, and rare earths for Japanese industries. Shift from Trading to Equity Ownership: Historically, sogo shosha were just middlemen. Today, they hold direct equity stakes in major mines worldwide, often partnering with mining giants like BHP or Rio Tinto. They earn massive profits from dividend income when commodity prices rise. Green Energy Transition: Recently, sogo shosha have shifted their mining investments away from thermal coal. They are now aggressively investing in “critical minerals” like lithium, nickel, and copper, which are essential for electric vehicles (EVs) and renewable energy technologies.