Securing copper supply: no China, no energy transition

By Nick Pickens, Robin Griffin,Eleni Joannides,Zhifei Liu – Wood Mackenzie

The world cannot decarbonise without copper, a key component of electrification. Amid efforts to secure minerals for the energy transition and achieve climate goals, demand is set to surge. We estimate that demand for copper will grow by 75% to 56 million tonnes (Mt) by 2050. 

Meeting this demand will require major investment. And while the scale of the investment required in new mine supply is well understood, the implications for the downstream processing (smelting and refining) and semi-manufacturing of copper are being overlooked. Currently, China dominates both these sectors.