Recorded on April 7 2026
Steve Yang sits down with Gianni Kovacevic for a wide-ranging macro conversation on the Strait of Hormuz, electrification, copper, lithium, phosphate, gold, silver, and the forces reshaping global energy and commodity markets. Gianni explains why geopolitical stress around Iran can accelerate the move away from fossil fuel dependence, why China already changed the timeline on electrified transport, and why copper, lithium, phosphate, and battery infrastructure could matter even more from here. The interview also dives into how he thinks about speculation versus investing, what he looks for in drill stories, why feasibility studies can change the market’s perception of a company, and how he views gold and silver in a debt-heavy world. From direct lithium extraction and LFP batteries to copper shortages, Poland, gold upside, and the timeline for broader electrification, this is a serious discussion for viewers who want the bigger picture rather than just another stock pitch. If you follow natural resources, macro investing, mining, energy, battery metals, or the future of electrification, this conversation is packed with frameworks, themes, and watchlists worth digging into. Like, subscribe, and ring the bell. #Millettian
Key topics
Iran and the Strait of Hormuz as a global energy chokepoint
Why Gianni says electrification is accelerating
China’s lead in electric transport adoption
Copper demand and the case for structurally higher prices
Lithium growth and direct lithium extraction
Why phosphate and LFP batteries matter
Natural gas pricing pressure in Europe
Gold, silver, debt, and rebalancing in 2026
How Gianni thinks about speculation, people, and outcomes
Why he calls electrification the new greatest prize
Guest links
Host Steve Yang Natural Resource Stocks
Website
https://www.NaturalResourceStocks.net
YouTube Main
https://www.youtube.com/@NaturalResourceStocks
YouTube Clips
https://www.youtube.com/@NaturalResoureStocksClips
X
https://x.com/TheSteveYang
LinkedIn
https://www.linkedin.com/in/thesteveyang/
Natural Resource Stocks LinkedIn
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Natural Resource Stocks Facebook
https://www.facebook.com/people/Natural-Resource-Stocks/100090526686713/
Natural Resource Stocks TikTok
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Natural Resource Stocks Instagram
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Chapters
00:00 Cold open
01:53 Steve Yang introduces Gianni Kovacevic
02:18 Iran Strait of Hormuz and macro risk
04:26 Why China changed the electrification timeline
07:48 Speculation versus investing
10:32 Lithium direct extraction and why demand matters
12:20 First Phosphate and LFP battery chemistry
14:15 Natural gas and the Europe setup
16:42 Copper demand and why prices may need to rise
21:08 Super Copper Lumina Metals and Poland
25:44 Silver volatility and First Majestic
27:59 Poland jurisdiction and investor checklist
29:51 Gold debt and why Gianni sees more upside
33:56 Why Gianni still prefers electrification metals
35:49 Feasibility studies and rerating potential
41:53 How fast the transition can really move
47:05 The new greatest prize
48:35 Gianni on his book and where to find him
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