- Write by:
-
Friday, February 17, 2023 - 15:49:05
-
308 Visit
-
Print
Mining News Pro - Higher prices and more government support will be needed for recycling to ease the next copper shortfall, Australian bank Macquarie said.
As demand increases due to advancing electrification, with primary production limited due to underinvestment, the market is predicted to drop to a surplus of 3Mtpa by 2030.
About 9 tonnes of copper are recycled every year, compared to a current demand of 31 million tonnes per year.
For years, commodities experts have warned of a copper crunch.
BloombergNEF estimates that demand will increase by more than 50% from 2022 to 2040.
“Copper typically is used as a construction metal for wiring for building, wiring for machinery and what not, but if we look at the decarbonization net zero energy transition trend, copper is the new oil,” Al Chu, who manages the BNY Mellon Natural Resources fund, told CNBC.
Copper has the longest recycling history of any material. It is estimated that in the last one hundred years, two-thirds of the 690 million tonnes of copper produced are still in productive use.
On average, copper products contain more than 30% recycled content, according to the Copper Alliance.
The production of recycled copper consumes 85% less energy than that of primary copper.
Short Link:
https://www.miningnews.ir/En/News/622692
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, ...
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP ...
Barrick Gold is not interested in bidding for Anglo American, which last week received a $39 billion takeover offer from ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
Top copper producer Codelco reported a decline in quarterly output due to lower quality ore at its aging Chilean mines — ...
No comments have been posted yet ...