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Global Copper Demand Soars: 30% Supply Deficit Looms

6/12/2025

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Summary

Story summary

The IEA's Global Critical Minerals Outlook 2025 predicts a 3.2% increase in refined copper demand for 2024, fueled by AI data centers and infrastructure projects in India, Saudi Arabia, and Malaysia.
Global copper supply is projected to peak in the late 2020s, followed by a significant decline due to decreasing ore grades and mine closures.
A 30% copper supply deficit is anticipated by 2035, highlighting the need for recycling and new mining investments to satisfy future demand.

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Story summary

The IEA's Global Critical Minerals Outlook 2025 predicts a 3.2% increase in refined copper demand for 2024, fueled by AI data centers and infrastructure projects in India, Saudi Arabia, and Malaysia.
Global copper supply is projected to peak in the late 2020s, followed by a significant decline due to decreasing ore grades and mine closures.
A 30% copper supply deficit is anticipated by 2035, highlighting the need for recycling and new mining investments to satisfy future demand.