Survey names lead as favored metal of 2014

When asked which metal they would most like to hold a long position on a 12-month view, investors agreed lead is likely to be the most promising mineral in 2014, according to Macquarie’s 2013 LME Week Summit Survey. The renewed faith in the lead market, which has suffered from years of surplus, made it the best performing metal last week. It is the first time since 2008 that copper did not receive the title.

With reserves in Missouri, Alaska and Idaho, lead offers lucrative potential for the U.S. mining industry. In fact, General Motors recently decided to begin using lead-based batteries in its Malibu sedan model. According to General Motors, the lead-acid battery allows cars to achieve the same fuel economy for a lower cost to consumers and the company.

Lead also plays a critical role in national security, ranked third in the Department of Defense’s list of Top 10 Standard Materials.

With the world’s renewed confidence in lead, Congress should exploit this opportunity for economic growth and well-paying jobs by streamlining the permitting process and allowing more domestic minerals mining projects to come online.