Commodity prices have not been kind to investors, nor to those companies mining the commodities, since about the middle of 2012. With the potential for a bottom, now could be a great time to open a mining position for the long term. This could be especially true if a bottom in copper and gold prices is combined with an equalizing balance between supply and demand. According to Motley Fool analyst Taylor Muckerman, Freeport-McMoRan (NYSE:FCX) might be worth a glance.

As for natural gas producers, a lot of them struggled through 2012 due to the pricing collapse that caught many of them off guard. The low-cost producers were able to barely scrape by, so they should be worth a look now that the price of natural gas has climbed above $4 per million British thermal units. Motley Fool analyst Joel South happens to like Chesapeake Energy (NYSE:CHK) and Devon Energy (NYSE:DVN) in this space.

Joel South owns shares of Devon Energy. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool owns shares of Devon Energy and Freeport-McMoRan Copper & Gold and has the following options: Long Jan 2014 $20 Calls on Chesapeake Energy, Long Jan 2014 $30 Calls on Chesapeake Energy, and Short Jan 2014 $15 Puts on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.