Copper: enough "red gold" to reach carbon neutrality?

With the energy transition, the demand for copper, a crucial material in renewable energy and electric mobility, is expected to surge. According to our conservative estimates, by 2030 and 2050, 35Mtpa and 55Mtpa, respectively, of refined copper will be needed to achieve a carbon neutral economy by 2050.

In theory, these levels of production could be reached. However, this will require a consistently high capital expenditure of around $30 billion per year until 2050. This poses a challenge, as the "red gold" faces stiff competition from gold, which is favoured by investors and accounts for almost half of the mining exploration budget.

Find out more in a special report by Bernard Dahdah, senior metals and mining analyst.

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