Global resource industry consultant Wood Mackenzie issued a research report on copper with comparable results to one published by S&P Global early this year, with both warning of massive shortages in copper supply proportional to demand.
To meet rapid zero-carbon targets (limiting the rise in temperatures to 1.5 degrees), Wood Mackenzie stated that 9.7 million tons of mine supply would be needed over the next decade from projects that have yet to be approved. It added that low-carbon copper demand over the next two decades would be equivalent to more than 60 percent of the present size of the copper market, and the additional production needed for the latest projects for emissions-reducing technologies would be equivalent to almost a third of existing refined copper consumption. That would need around $23 billion ($36.1 billion) of investment a year in new projects and would support a surge in the copper price to more than $11,000 a ton within five years, the consultancy firm added. The copper price as of this writing is just over $7,600 a ton. Watch the video below to know why there will be an inevitable copper shortage. This video is from the Liberty and Finance channel on Brighteon.com.Study: States that implemented COVID lockdowns suffered major ECONOMIC LOSSES
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