SPQ Chart, page-857

Copper boom likely to last for decades, prompting a global hunt for new supply

The above is a very good article, inc outlining new mines that will not cover production from present mines closing or reducing outputs, yet alone increasing supply. It also covers many current mines are getting onto lower grades.

After 2035 some countries, inc Canberra have banned the sale of new petrol cars, 2035 sounds along way off, but its just 13 years and when we consider a copper deposit from discovery to produce is 10-15 years, if all contries ban, it will not work out.

2021 Global EV sales were 6.5m vehicles. Global New Car sales in 2021 were 66m. By 2035 another 59.5M new cars PA need to be EV.

That is a 9X increase against preductions of a 2X increase in copper needs.

That is just cars, there will be ships, aeroplanes, Mining equipment, Then home batteries. Many homes have solar, but no battery at this stage, so uptake there maybe greater than the solar uptake of the last 15 years, over the forward 13.

What do you estimate David? Do you think we are grossly under estimating the future shortfall of Copper? Do you think our needs maybe 90MTPA not 40MTPA?

Just that analysts are not taking into account if all countries ban all new petrol cars globally which will be occuring i feel.