Some of the world’s largest mining companies, market analysis...

Some of the world’s largest mining companies, market analysis firms and banks are warning that by 2025, a massive shortfall will emerge for copper, which is now the world’s most critical metal due to its essential role in the green economy.

(On July 31, 2023, the US Department of Energy officially put copper on its critical materials list, marking the first time a US government agency has included copper on such a list, following the examples set by the EU, China, Canada, and other major economies.)

The deficit will be so large, The Financial Post stated, that it could hold back global growth, stoke inflation by raising manufacturing costs, and throw global climate goals off course.

To achieve net-zero emissions targets, annual copper demand is likely to double to 50 million tonnes by 2035, according to a study by S&P Global.

Simply put, electrification doesn’t happen without copper, the heartbeat of the global energy economy.

Along with the usual applications in construction wiring and plumbing, transportation, power transmission and communications, there is now added demand for copper in electric vehicles, EV charging stations, and renewable energy systems.

How much red metal actually becomes available is seriously in doubt, as we have outlined above. And China, THE player in demand, seems like its going to continue it’s record copper demand in 2024

The Link is an interesting read on shortfall and resource limitation.

https://www.mining.com/copper-this-dog-will-hunt/