Bullboard - Stock Discussion Forum Ascendant Resources Inc ASDRF

Primary Symbol: T.ASND

Metals & Mining Industrial Metals & Minerals

Ascendant Resources Inc. is a Canada-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada volcanogenic massive sulphide (VMS) project located on the prolific Iberian Pyrite Belt (IPB) in Portugal. The Lagoa Salgada Project is located within the north-western section of the prolific Iberian Pyrite Belt in Portugal, approximately 80 kilometers... see more

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Ascendant Resources Inc > ASND's copper and copper demand will double thanks to EVs

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Post by stockfy on Apr 16, 2021 2:54pm

ASND's copper and copper demand will double thanks to EVs

More good news for ASND's copper-zinc project in Portugal. Morgan Stanley (MS) says that copper demand from auto industry is expected to double as EVs ramp up. See full excerpt below:

Copper demand is expected to increase as more electric vehicle manufacturers ramp up production.
Morgan Stanley breaks down the impact of EVs on copper supply.
"Our commodity team assumes an average of 20kg of copper in the average ICE light vehicle and 75kg per copper in the average BEV. Applied to our de-adoption of ICE and our adoption of BEVs in our global auto forecast suggests a growth in copper demand for light vehicles (excluding infrastructure) to approximately 3.4 million tons by 2030 vs. around 1.6 million tons today for a CAGR just shy of 8%."
Morgan Stanley notes that the global copper market is a 22M ton market for refined copper with the total market being around 28M tons which includes 6M tons of scrap in between. MS sees a risk in the middle of the decade of a copper shortage and notes a copper substitute could be more than ten years out.