The unprecedented demand for copper in the transition to renewable energy and electric vehicles poses a significant challenge to achieving climate targets.
Copper has been used in electrical wiring for over 200 years and underpins virtually all the electrification of daily life, from power stations to power transmission lines, substations, and batteries.Without copper and its unique combination of electrical conductivity, durability, and ductility, the national power grids of every nation, and virtually every device on earth that contains a battery, wouldn't function.
Having recently attended the two-day COP Sustainable Innovation Forum and the COP Hydrogen Transition Summit at the COP29 summit in Baku, I had many discussions regarding the role of the mining sector in supporting the success of climate targets and the actions of Anglo Asian Mining in its approach to future project development.It is a great oversight of the current debate on the global transition to net zero that the supply of copper required to support it is frequently an afterthought.Current estimates tell us the unprecedented shift to battery-powered electric vehicles, renewable energy platforms such as wind turbines, solar panels, and geothermal plants, and energy-efficient devices will require not only all the world's current annual copper production, but double that amount each year by as early as 2035.Even at important international climate change conferences such as New York Climate Week and COP, serious consideration of copper supply is often underrepresented.Visitors attending can be forgiven for never hearing that agreements to limit global warming to 1.5 degrees and transition national electricity generation to renewable energy rely on 25Mt of copper that do not yet exist.The International Energy Agency ('IEA') has predicted that as early as 2030 demand for copper will significantly outstrip supply: all existing copper mines plus all copper mines under construction will only have capacity to produce 80% of the copper required.Confronting this challenge head-on is the only route to a low-carbon futur
COP29 Copper Renewable Energy Electric Vehicles Climate Change
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