Copper mines need 332 billion dollars
The article explains that copper mines require new investments totaling $332 billion to avoid supply shortages by 2050. Without these investments, a deficit of 20 million tons is expected by that time. The demand for copper is increasing, especially due to the shift to electric vehicles, which is expected to boost demand by 89% to reach 23.3 million tons by 2050—necessitating the development of new mines. Although large quantities of copper are available underground, halted expansions or declining production, coupled with the fact that developing a new mine takes an average of 17 years, will result in a continued shortfall until 2043, alongside reduced supplies from key regions like Chile.
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