IEA Warns of Potential Shortages of Copper as Demand Increases For Renewables

IEA Warns of Potential Shortages of Copper as Demand Increases For Renewables

A recent report from the International Energy Agency (IEA) has predicted that demand will outpace supply for copper and lithium over the next 10 years as these critical minerals face higher demand for the green energy transition. The Global Critical Minerals Outlook 2025 report has predicted rapidly scaling demand for copper could potentially lead to shortages. The agency projected a 30% supply shortfall for copper by 2035. Although both copper …

For years, different actors in the mining industry have warned about a “dry new mining projects” in Chile. In a country that has been a world leader in copper production, this shortage of greenfield initiatives—those starting from scratch— raises serious questions about our ability to sustain and project that leadership in the coming decades.

Copper market faces “major risks” at supply shortage looms

The International Energy Agency (IEA) has warned that demand for copper is set to outstrip supply by 30% within the next decade, with security of supply further threatened by China’s growing dominance of the refining market.  Global demand for copper is expected to grow by around a quarter by 2040, driven largely by electrification of grids, clean energy and construction, the agency says in this year’s edition of its Global Critical Minerals Out…