copy from ATC post
Copper Crunch
Copper is mainly used as the current collector on the anode part of a lithium-ion battery. Copper is looming
as the biggest worry, with the biggest driver of scarcity being the energy transition and increased EV
demand. A recent report (Future of Copper) notes: “The 2050 climate objectives will not be achieved without
a significant ramp-up in copper production in the near and medium term, which will be very challenging.”
An electric vehicle battery requires 2.5 times more copper than a standard ICE vehicle. The report notes
that there simply aren’t enough copper mines being built or expanded to provide all the copper needed to
produce the 27 million EVs that S&P Global has forecast to be sold annually by 2030. Copper could rival
oil as a national energy security concern for some countries.
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