COPPER
Due to its unparalleled electrical properties copper is omnipresent in nearly all electrical infrastructure, and data centers more than most infrastructure require enormous quantities of copper.
The AI Revolution has led to an ongoing boom in Data Center construction, and copper is a key building block of this infrastructure.
1. Goldman Sachs 2. Statista 3. Statista 5. CBRE.com
Click/tap image to enlarge.
Click/tap image to enlarge.
At the UN’s COP28 climate summit 118 governments pledged to triple the world’s renewable energy capacity by 2030. The IEA reports that renewable energy infrastructure, including solar and wind power, needs 2.5 to 7 times more copper than fossil fuel-based technologies. 1
Click/tap image to enlarge.
Click/tap image to enlarge.
Even without factoring in the renewable energy transition, or the data center boom, the world will need to mine at least 115% more copper than has been mined in human history to meet business-as-usual trends to 2050. Rapid growth in developing countries is increasing the demand for copper in building construction, electrical wiring, plumbing and industry. 1
Click/tap image to enlarge.
The current trajectory of copper supply is failing to match up to demand projections. Managing growing demand requires substantial investment in new mining projects and infrastructure. 1
Recent reports from S&P Global, Wood Mackenzie, the International Energy Agency and other researchers conclude that while demand for copper could nearly double by 2035, mining companies are having a hard time keeping up. 2
S&P Global projects the U.S. will require twice as much copper to satisfy its “energy transition demand” by 2035.
Adding conventional, non-energy transition demand, U.S. copper consumption will reach 3.5 million metric tons by 2035, an increase of 112 percent (6.5% CAGR). 3
Click/tap image to enlarge.
TARGETS: Copper Creek
TARGETS: Pyrrhotite Creek
TARGETS: Star East
TARGETS: Star North
TARGETS: The Star
