Copper is vital to the green energy transition, and demand is forecast to double by 2035 and keep increasing.
50 MMt by 2040
According to Wood Mackenzie, the energy transition is expected to drive a huge increase in copper demand, from roughly 28 million metric tons (M mt) today to over 50 M mt by 2040. To meet this demand and deliver global net-zero goals, massive new supplies of copper are required.
Total copper consumption by 2040 required to achieve global net zero emissions [by 2050]
Source: Wood Mackenzie, Q2 2022