Executives in the copper mining business have voiced concern about supply constraints, saying that higher copper prices alone would not be enough to secure enough metal needed for the world to go green
The transition to low carbon energy could be jeopardised by the lack of new copper mines to keep pace with growing demand, industry bosses have warned. Copper is an essential metal used in renewable energy such as turbines and electric vehicle batteries, and for upgrading the electricity grid, making it crucial in the race to reach net zero.
” This comes with miners struggling over falling commodity prices, with demand in key markets such as China weighed down by sluggish economic growth while companies struggle to protect their margins from inflation. Copper prices have dropped four per cent this year to roughly $8,000 per tonne, well below the $10,000 per tonne peak last year.
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