Copper forecast by BP Hilton The article is from Nov. 01, 2016 so if you have not read it :
World’s largest mining company BHP Billiton (ASX, NYSE: BHP) (LON:BLT) sees electric cars as a major ally in boosting demand for copper, by far the poorest performer this year on the London Metal Exchange.
The conventional internal combustion engine used in motor vehicles typically contains about 20 kilograms of copper, about half the total used in a hybrid vehicle, Vicky Binns, vice president, marketing minerals writes. But an electric vehicle (EV) doubles that again, to about 80kgs.
It means that an additional 8.5 million tonnes of copper will be needed each year by 2035, the company estimates. This is great news for BHP, as copper accounts for 27% of its commodity sales, second after iron ore at 34%.
"As a company, we have made no secret of our liking for copper in the medium to longer term," Binns says. "We anticipate it will be the first mineral commodity in our portfolio to return to fundamental market balance.”
Full Article url:
https://www.mining.com/bhp-billiton-jumps-on-the-electric-car-bandwagon/