Natural Resource Stocks, Released on 6/8/26

Rick Rule joins Steve Yang on Natural Resource Stocks for a wide-ranging discussion on the natural resource bull market, uranium, oil, copper, junior mining speculation, and the 2026 Rule Symposium. Rick says the resource cycle is not over, but investors need to understand the difference between the easy money already made and the sure money he believes may still be ahead. He explains why rising living standards, energy density, China’s growth, electricity access, and resource intensity remain major long-term drivers for commodities. Rick also breaks down why uranium matters for energy security, why peak oil demand may be much further away than many investors think, and why copper shortages may be extremely difficult to solve quickly. The conversation closes with Rick’s framework for junior mining speculation, portfolio discipline, company selection, and what makes the Rule Symposium different for serious natural resource investors.

00:00 Easy money is gone but sure money is ahead
00:54 Introduction to Rick Rule
01:27 Where are we in the resource cycle
02:28 Dollar debasement and China’s urbanization
03:39 China’s material advancement and global resource demand
08:35 Uranium, nuclear power, and rising electricity demand
12:12 Energy security and uranium’s unique role
14:09 Oil, peak demand, and sustaining capital underinvestment
21:08 Copper and the next commodity setup
22:27 Copper deficits, AI demand, and old mines
27:34 How to think about junior mining speculation
35:29 Rule Symposium company vetting
38:27 Rule Symposium value, recordings, and guarantee
41:33 Where to find Rick Rule
42:51 Closing comments

Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunities in the oil and gas, mining, alternative energy, agriculture, forestry and water industries. He is also the co-founder of Battle Bank and founder of Rule Investment Media.

  commodities, copper, investing, oil