Copper miners need $332bn investment to avert future shortages, study says

BloombergNEF estimates that copper miners worldwide will need to invest $332 billion (€296 billion) to prevent future shortages, as demand grows and older mines produce less. The research firm expects a copper deficit to emerge as early as 2028. [1]

Demand is forecast to rise by 89 per cent to 23.3 million tonnes by 2050, driven partly by the shift from fossil fuels to electricity. Electric vehicles, lorries and buses use copper in components including motors, battery packs, high-voltage wiring and charging points. Data centres are another source of rising demand.

Without substantial investment, the copper market could face a shortfall of 20 million tonnes by 2050, BloombergNEF warns. It says that could slow the energy transition.