Three major global trends could together create a need for more than 100 million tonnes of copper between now and 2040, transforming the market, according to the chief executive officer of Atlantic Copper.
These trends were urbanization and household electrification, a changing energy mix, and the use of electric vehicles, Javier Targhetta told CRU's 18th World Copper conference in Santiago, Chile, on Wednesday April 10."Long-term copper demand arising from the growth of urbanization and a move toward a low-carbon economy may be greatly under-estimated by the market," he said. "Total cumulative copper usage through 2040 has the potential to reach 105 million tonnes."This scenario was not as unlikely as it sounded when put into context against the cumulative copper use in China of 160 million tonnes from...