Copper Needs $332 Billion in New Mines to Avoid Deficit, BloombergNEF Says

By Tsvetana Paraskova – oilprice.com

While nine out of ten key energy transition metals are back on track to deliver sufficient supply by 2050, a total of $332 billion of investment is needed in new copper mines to avoid a looming copper deficit that could slow electrification, BloombergNEF said in its Transition Metals Outlook 2026 on Tuesday. 

In recent years, supply of key energy transition metals has improved considerably, with the exception of copper, which is still expected to see a shortfall through 2050, unless billions of dollars are invested in new supply. 

Lithium, graphite, cobalt, aluminum, nickel, manganese, steel, platinum, and palladium are all expected to have sufficient long-term supply capacity to support electrification through 2050, as global shortages have eased significantly, BNEF says.