Why Copper Demand Is Skyrocketing

Demand for copper is surging. The red metal, considered a barometer for economic health, is a vital component for the construction and defense industries as well as a key ingredient in electric cars, wind turbines and the power grid. Offshore wind, for example, requires about “three times as much copper as does coal-fired power generation in terms of tons per gigawatt of capacity.” But mining companies are having a hard time keeping up. Globally, existing mines and projects under construction will meet only 80% of copper needs by 2030. To keep up with demand the industry is faced with a number of obstacles. including the shortage of mining workers, navigating regulatory hurdles as well as pushback from local stakeholders. So what impact will the looming global copper shortage have on the transition to renewable energy sources? To look at the challenges facing copper producers, CNBC got a behind the scenes look at Rio Tinto’s Kennecott mining operation outside of Salt Lake City where about 200,000 metric tons of copper are produced annually.

Chapters:
0:00-2:22 Introduction
2:23-5:15 Chapter 1 Copper demand
5:16-7:12 Chapter 2 Companies
7:13-10:45 Chapter 3 Mining in the U.S.

Produced and Shot by: Shawn Baldwin
Edited by: Nic Golden Henry
Supervising Producer: Jeniece Pettitt
Animation: Jason Reginato
Additional Footage: Getty Images, Daniela Zavala

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Why Copper Demand Is Skyrocketing

[AngusAbbott-qfxm]

As an electrician who has been collecting the scrap wire from my jobs for years this is great news 👍🏼🇬🇧

[Patrick-yhyd]

Stealing copper wire is a growing business.

[noUGames]

Copper is pretty valuable in Fallout 4

[auro]

copper is easily available in junk yards where electronic and electrical wastes have lot of copper coils

[andrewdewit]

Excellent work. You might also have pointed out that about 9% of global copper was used for military (ammunition, etc) even before Russia's invasion of Ukraine and other developments further increased spending on weapons systems.

[chrlzortz]

Copper and lithium, Chile will be a strategic ally for the world.

[BaozhaiDongme]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them...

[EcomCarl]

The surging demand tied to renewable energy and electric vehicles shows the need for sustainable mining practices and increased recycling efforts. 🌍

[bachhongtran]

As a Vietnamese, this channel of CNBC basically is English learning channel that i visit daily.

[SIRLEE]

Uganda 🇺🇬 was one of the biggest copper producers in Africa in the 1960s and 70s. But it’s copper mines were abandoned due to political instability. I think it’s high time these mines were revived because of the massive copper deposits there in and the already existing mining infrastructure.

[kcman]

Side joke. Remember that debate in the 90s about no longer manufacturing pennies? It cost's close to 2 cents to make 1 penny lol!

[hectorrivera]

Here in Panama a copper mine is operating. They deforested kilometers of forest, denied the use of airspace, took hundreds of tons of copper and paid nothing to the State. We have the Panama Canal that consumes enormous water resources and is a national priority. At the end we have a hole where there was a forest, Less water resources, tons of copper were taken and Panama did not receive any good impact Beyond saying that they are 5% of the GDP. All this to make cars whose batteries will cost you 25k the day you have to replace them. Who won? You and your electric car? No. Environment? No. Panamá. No.

[rapfreak]

3:35, most conductor used for distribution and transmission is aluminum, not copper

[shilohtrowbridge]

Not a single mention for how the largest housing market in the world China which is the largest consumer of copper is declining and will likely not build more homes for the next 10 years copper is not going to explode upward in price anytime soon but you should already know that whenever CNBC releases a little special it pretty much marks the market top

[GreenMetalsInvestor]

This is a fantastic rundown of the bull macro thesis - thank you! bookmarked 👍

[Paul-yhkm]

Copper is being replaced by aluminium in various high power conductor applications. Modern grid transmission cables use aluminium with steel reinforcing, also used for the high current cables in EVs.
So CNBC haven't got the facts totally correct.

[StanislavVorobev-gv]

Thank you! You've given more structure to what I've recently started to get around to.

[MariyaLukina-ho]

Your approach to trading is truly impressive. Thank you for teaching me so much!🎄

[ElenaNikolaeva-wpsd]

your results are crazy. You are a real professional in this matter

[danielquinn]

This year I have experienced more gains than losses in the crypto/stock market, thanks to some knowledge I acquired from my financial advisor. I have managed to flip the market.