It's about future Copper needs ! Copper
May 28th 2024
To underscore the increased global demand for metals, respected broker SP Angel today reported in an email dispatch that a University of Michigan study said the amount of copper needed for electric vehicles is “impossible for mining companies to produce.” The study highlighted the critical challenge of insufficient copper production for the global transition to EVs, saying the amount of copper needed for EVs is "essentially impossible for mining companies to produce." An EV requires three to five times more copper than traditional gas or diesel cars.
The study analyzed 120 years of global copper production data and modeled future production against projected copper needs for renewable energy and EVs. The study concluded that renewable energy's copper needs exceed current production capacity.
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