Global Energy Drive Will Ensure Copper Demand Not Likely To Let Up Any Time Soon Cobre | May 29, 2014
There will be no let-up in global demand for copper for a very long time as the cycle will be driven by the ongoing expansion of conventional and non-conventional power plants, according to Australian copper developer, Cobre Montana.
Addressing the second day in Sydney today of the Paydirt 2014 Latin America Downunder Conference, Cobre Managing Director, Mr Adrian Griffin, said global energy demand is expected by 2015, to double that of the 1980s.
“The 80s saw major new power plants being opened around the world about one every 17 days,” Mr Griffin said.
“New analysis suggests that in the decade beyond 2015, that rate will rise to one every five days or so.
“Power plants and the economies they feed – whether nuclear, coal, hydro or other fuel feedstocks – are large consumers of copper.
“Therefore it will be that energy demand which will be a major factor in underpinning the long-term demand for copper, despite the current price pressures for the red metal.”
AVB Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
