Mining giants Rio Tinto, Usha and Taseko are tackling copper shortages as surging EV and clean energy demand risks a 200,000-ton deficit by 2025
The global pivot to renewable energy and EVs drives an unprecedented demand for copper. The essential metal, critical for everything from EV batteries to wind turbines, is facing a supply crunch that could impede progress toward clean energy goals.
Swiss bank UBS estimates that the copper supply deficit will exceed 200,000 tons by 2025. The International Energy Forum adds that, to meet the growing demand, more than a billion tons of new copper mining capacity will be needed annually until 2050.
Despite recent drops in copper prices, experts warn that the surplus may be fleeting. Accelerated demand from renewables and EV markets is expected to outpace supply, turning today’s temporary abundance into tomorrow’s critical shortage.
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