Global Copper Supply Crisis: Record Prices and Looming 10 Million Ton Shortfall by 2035

Summary

The article discusses the global copper supply crisis, highlighting that copper prices have reached record highs due to supply constraints. While global copper production is expected to reach an all-time high later this decade, projections show a looming 10 million ton shortfall by 2035. Major mining company BHP estimates the world will produce 15% less copper in 2035 than today, as copper discoveries have stalled and existing mines are depleting. The article argues that signs of an imminent peak and decline in copper production are clear, suggesting that 'peak copper' has arrived unnoticed.