Copper has become a hot topic due to its role in the green energy transition and its necessity for urbanization. However, the lack of incoming supply in the long term has experts concerned. Due to its importance in construction, energy transmission and new technologies, copper is a critical metal needed to power the future of our society. However, mined supply has not kept pace with demand, with few new operations coming online, and older mines facing decreasing grades and lower outputs. The term “peak copper” was coined because some experts believe that copper reserves may be diminishing. According to the US Geological Survey (USGS), more than 700 million metric tons of copper have been mined throughout history, and current economic global copper reserves stand at 980 million metric tons. Nearly all of that mined copper is still in circulation, as the red metal’s recycling rate is higher than that of…
