Exactly:
Today some three-quarters of copper mined ends up in some sort of electrical application, ranging from the wires in your lights to the generators in power plants to the semiconductors in your phone to the magnets in your microwave. Another quarter finds its way into construction, with plumbing and roofing materials the biggest slice. The bulk of the remainder finds its way into electric motors; with the world’s EV craze surging we’ll need a lot more copper in the decades to come.
But that’s the future. For now, the story is all China. Large country, large population, rapidly industrializing. Everything about China demands copper in large volume, and so China hoovers up both metal and ore from the world over, and houses ten of the world’s twenty largest copper smelters.
This means copper producers face a dark midterm future. Copper demand, and from it copper prices, are directly linked to very well-known demand in the sectors of electrification, construction, and transport.
And just for some context, if the EV , electice vehicles , and green catches on, which Im skeptical of given the break down in world trade and supply, but copper is even in more demand:
Just got to hit something nice out there with the drilling!
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Ann: Further Encouraging Copper Assays from Canbelego Main Lode, page-19
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