Copper shortfall expected – Antofagasta CEO
VANCOUVER (miningweekly.com) – London-based base metals company Antofagasta said on Wednesday it expects a shortfall of copper to emerge because of the slow rate at which new mines are permitted and built.
Antofagasta chairperson Jean-Paul Luksic said at the company's annual general meeting that the emergence of new sources of copper demand, such as electric vehicles that use significantly more copper than established technologies, points to possible further demand growth in the medium- to long-term, while the traditional markets in China and other emerging economies will remain the most important drivers for copper in the shorter term.
Luksic pointed out that it remains less clear as to where the source of increased supply to satisfy this demand will come from, with only one major greenfield site under construction and no others having been committed to for several years.
“Considering a medium-sized mine can take two to three years to build and even longer to permit, this suggests a shortfall can be expected, and the longer term looks positive as well,” he stated.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation