Copper in high demand over the next few years
Experts are forecasting significant growth in demand for copper in the coming years.
(PresseBox) - The current copper price is still too low for new deposits to be developed. There is a consensus that the demand for copper will increase significantly over the next few years. Data centers, the energy transition, wind and solar power and even armaments need copper. More copper needs to be used in renewable energies and the electromobility sector than in conventional systems. Power grids need to be modernized and expanded due to growing global electricity consumption. Bottlenecks in the global copper supply are inevitable. And the time from copper discovery to the start of production is long and causes high costs. Approval procedures are often complicated. As a result of the global energy transition, copper is therefore undergoing a transformation. BHP Billiton, for example, forecasts that global copper demand will increase by around 70 percent to more than 50 million tons per year by 2050.
BHP Billiton operates the world s largest copper mine in Chile. Copper production in Chile fell to a 20-year low. However, the expected high demand for copper seems to have had an impact since 2024. There is more investment in existing mines again, for example by BHP Billiton, as well as new production-enhancing technologies. This is because ore grades are falling, and copper is in high demand
As copper is indispensable for the transition away from fossil fuels, some mining companies are focusing on the raw material, such as Mogotes Metals - https://www.commodity-tv.com/ondemand/companies/profil/mogotes-metals-inc/ - with projects in Argentina and Chile. The Filo Sur copper project in the Vicuña district (Argentina) is particularly noteworthy. The company has just added important exploration areas there.
In Saskatchewan, Foran Mining - https://www.commodity-tv.com/ondemand/companies/profil/foran-mining-corp/ - owns nine properties containing copper, zinc, gold and silver. At the McIlvenna Bay deposit, 100% owned by the company, the winter drilling program is underway and is expected to cover over 30,000 meters. Drilling results from 2024 have already been very encouraging.
Current company information and press releases from Foran Mining (- https://www.resource-capital.ch/en/companies/foran-mining-corp/ -) and Mogotes Metals (- https://www.resource-capital.ch/en/companies/mogotes-metals-inc/ -).
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Datum: 14.02.2025 - 06:40 Uhr
Sprache: Deutsch
News-ID 717680
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