Progress on Diversifying From Chinese-Backed Copper Sources Slow: Research

Diversification away from Chinese copper—a critical mineral needed for green energy—has been slow and could be costly, research shows. “A scenario without China for the copper supply chain would require a substantial increase in processing capacity to meet energy transition targets,” said Nick Pickens, research director of global mining at Wood Mackenzie. “Based on our projections, there will be an additional 8.6 million tonnes (Mt) of copper demand outside China over the next decade. This demand represents 70 percent of smelter capability and 55 percent of fabricator capacity in the rest of the world. As governments and manufacturers aim to diversify away from China, it is crucial to consider the entire supply chain, not just mining operations.”...