Smart Chinese locked in! Copper industry fires up to meet demand
The copper industry has been in a lull in the last few decades and is reportedly suffering from underinvestment that is now rapidly changing.
New mines are being developed and older sites being rapidly refurbished to deliver on the increasing demand. It isn’t only electric cars that have sent the demand for copper skyrocketing, devices like Amazon Echo and other home assistants require large amounts of copper in their production.
According to data from consultancy BSRIA these devices will consume about 1.5 million tonnes of copper by 2030, up from 38,000 tonnes today. According to sources present at the presentation, Maryssael also said Tesla will focus on using Nickel rather than cobalt in battery cathodes.
Amazing how this big wheel is about to CHURN!