Copper Shortages Threaten Clean Energy Goals as Demand Soars and Mining Scrambles to Keep Up

Copper demand is expected to nearly double by 2035 to support clean energy growth, but mining companies are having difficulty keeping up with production. This could hamper the energy transition.
Solutions include improving existing mines, developing new extraction methods, and increasing recycling efforts. But more investment and new extraction projects are still needed to meet future demand.
Long lead times for new mining projects, driven by companies wanting to de-risk investments, have constrained copper supply growth over the past 20 years.
Mining companies are focused on maximizing output from existing mines through expansions, new leaching techniques, and adopting automation and electrification.
Although copper shortages may occur in the near-term, copper remains essential for the inevitable transition to clean energy and net-zero emissions goals. Recycling will also play a bigger role.

cnbc.com

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Topics

Posted 9/27/2023, 12:10:48 PM

Copper Shortages Threaten Clean Energy Goals as Demand Soars and Mining Scrambles to Keep Up

Copper demand is expected to nearly double by 2035 to support clean energy growth, but mining companies are having difficulty keeping up with production. This could hamper the energy transition.
Solutions include improving existing mines, developing new extraction methods, and increasing recycling efforts. But more investment and new extraction projects are still needed to meet future demand.
Long lead times for new mining projects, driven by companies wanting to de-risk investments, have constrained copper supply growth over the past 20 years.
Mining companies are focused on maximizing output from existing mines through expansions, new leaching techniques, and adopting automation and electrification.
Although copper shortages may occur in the near-term, copper remains essential for the inevitable transition to clean energy and net-zero emissions goals. Recycling will also play a bigger role.