BHP predicts a surge in copper demand by 2050 due to the growth of AI, data centers, and the clean energy transition.
Mining giant BHP expects the surge of AI computing and the exponential expansion of data centers to boost global copper demand by 72% by 2050, the miner’s chief financial officer Vandita Pant told the Financial Times. Copper is vital for power supply and transmission, and it is also used in the cooling systems and processors at data centers .
BHP made an unsuccessful attempt earlier this year to buy another mining giant, Anglo American, as it was aiming at Anglo American’s copper assets that would have made it the world’s top copper producer. However, the offer was rejected by Anglo American. Copper prices have fallen in recent weeks due to concerns about demand in China amid the property crisis and weaker-than-expected economic growth.
BHP AI Artificial Intelligence Data Centers Demand Clean Energy China Economic Growth Copper Price
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