Analysts Say $210bn Investment is Needed to Boost Copper Mining
A recent report has determined that by 2035, the global demand for copper shall have hit 42.7 million tons annually, representing a 24% increase. The report highlights that electrification initiatives like electric car production and renewable energy systems are driving long-term demand growth that extends well beyond conventional construction and industrial uses. To meet this demand, analysts argue that roughly 8 million tons of new capacity will be needed from brownfield and greenfield mining projects annually, in addition to 3.5 million tons from improved utilization of scrap copper. In total, $210 billion in new investment is needed over the next 10 years to close the widening imbalance between the red metal’s demand and available supply. This need for investment is further underscored by recent market developments. During his address at LME Week…