Vice president of Australian company BHP Tariq Salaria believes copper mining will need to double within 30 years if rising demand for this valuable industrial metal is to be satisfied. This will be the result of the decarbonisation of the world economy and the transition to electricity.
Copper is a widely used metal in electrification installations, which means that demand for it will certainly grow in the near future. The world is increasingly inclined to meet greenhouse gas emission reduction targets, which means moving towards greater use of electricity.
“Decarbonisation and electrification are the main driving factors in future demand for industrial metals, without which this process can not be without,“ Tariq Salarie, vice president of Australian mining company BHP, told Reuters. According to him, humanity has no choice but to dramatically increase the extraction of copper and other industrial metals in order to keep supply up with demand.
“In order to meet the trends that have followed, copper production will have to double over the next 30 years,” he added, adding that Asia, led by China, will remain the biggest consumer of these metals.