A Global Copper Crunch Is Looming

The International Energy Agency (IEA) expects a major copper deficit to emerge over the next decade, as demand for the metal rises sharply. Unless global mining for copper is expanded at an accelerated rate, demand could outstrip supply by as much as 30 percent. Meanwhile, several new copper powers are expected to emerge to counter Chinese dominance of the global copper market, with the development of new mining projects. There could be a supply shortage of copper by as much as 30 percent by 2035 as global demand increases, mainly owing to the…