IEA warns: without urgent action, world will face 30% shortage copper already in 10 years.
The International Energy Agency (IEA) predicts that by 2035, demand for copper will exceed supply by 30%. The metal plays a key role in the transition to a low-carbon economy, and its shortage could seriously slow clean energy development.
Copper is widely used in the production of solar panels, wind turbines and electric vehicle batteries. However, since the opening deposits It takes an average of 17 years before production begins, which poses serious challenges to meeting growing demand in a timely manner.
Today, more than 70% of the processing of critical minerals, including copper, is concentrated in China. Although mining occurs around the world – in Africa, Australia and Latin America – such dependence on one region poses risks to global supplies.
Fatih Birol, head of the IEA, called on countries to:
- Accelerate the launch of new projects for copper mining.
- Increase processing volumes.
- Look for alternatives, such as aluminum.
- Develop international cooperation to diversify supply chains.
Without these measures, rising prices for copper and related technologies are inevitable, which will hit consumers’ pockets and slow the transition to green energy. However, with timely action, the crisis can be avoided.
Source: @UdokanCopper
Photo: Shutterstock
