Is this current cycle really an "unusually long time?"

Everything I've ever read and heard refers to commodities cycles transpiring over 7 to 10 year periods. That puts us, hopefully, in the latter stages of the current downturn, perhaps, based on recent trends, in actual recovery. If these forecasts of copper deficit in 2018 are accurate, then we should continue to see copper climb steadily. 

Believe me, I realize the agony we've endured over the past several years has been difficult to endure, but to insinuate that the days when majors will pay "big bucks" for valuable assets is gone seems rather pessimistic and defies history. 

I mean, I just read about this situation in September, and I'm sure there are many other similar examples:

Precious metals miner Buenaventura is considering bidding for the $2 billion Michiquillay copper project in Peru, which the South American nation is auctioning off in November.

http://www.mining.com/giant-peru-copper-project-attracts-first-bidders/