Ivanhoe (IVN) CEO Likes Copper, Iron Ore

With the eventual start of the reconstruction in Japan, Ivanhoe Mines (NYSE:IVN) Chief Executive Officer Robert Friedland said he's bullish on iron ore and copper prices in the near future.

"What happened in Japan is insanely bullish for copper," Friedland said at the Mines and Money conference in Hong Kong.

"I'm a copper bull, not really a gold bull," he added.

With damage to infrastructure and buildings estimated as high as $308 billion, it'll take years for Japan to rebuild, and it's sure to be a boon to the two commodities when combined with ongoing demand from China, and to a lesser extent, India.

More than likely it'll also extend the ongoing bull market beyond the years it was expected to last. It's anyone's guess now as to the length of time some raw materials will continue to rise in price.

Ivanhoe closed Tuesday at $26.36, gaining $0.28, or 1.07 percent.