WoodMac says that replacing Chinese copper supply chains requires US$85 billion
Analysts at Wood Mackenzie have said that shifting supply chains outside of China would increase the costs of goods and delay the energy transition."As major global economies look to reposition critical minerals supply chains outside China, the resulting inefficiencies could increase the cost of finished goods and delay the energy transition," WoodMac said in its Horizons report."The world cannot achieve decarbonisation without copper, a crucial component in electrification.
Security of supply is only achieved with heavy investment in stages two and three of the supply chain – smelting/refining and semi-fabricating," WoodMac said."China has continued to dominate investment in the supply chain over the past five years. It has invested nearly half of the $55 billion committed to new copper mine supply since 2019, primarily in overseas projects.
Woodmac Eleni Joannides Robin Griffin Nick Pickens Zhifei Liu
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