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Demand for copper has increased due to its role in the energy transition and its use in data centers. Renewable energy infrastructure, such as solar panels and wind turbines, requires a significant amount of copper, and electrification increases the need for wiring, motors and transformers, increasing demand for copper for electric vehicles (EV) and grid upgrades. At the same time, the rapid expansion of large data centers supporting cloud and artificial intelligence services has driven demand for additional power distribution, cabling and cooling infrastructure. Together, these trends have produced a steady, long-term demand for new and recycled copper.
<p> <iframe loading="lazy" title="CDS Widget" src="https://templates.cds.yahoo.com/remote/widget?campaignId=f29d9636-839a-47b1-b30b-2c5d57501dc4&lineItemId=44fc9657-ef9b-4b1c-af68-6ddd597c9599&site=finance&contentId=ba819736-4f3f-3bc0-b1c8-a52456e52d8a&spaceId=1183300100&providerId=mining_technology_700" scrolling="no" height="400" data-testid="offers-cds-iframe" class="yf-1xws99g"></iframe> </p> <p class="yf-1090901"><!-- HTML_TAG_START -->Global copper demand has increased at a compound annual growth rate (CAGR) of 2.7% over the past two decades, from 16.7 million tonnes in 2004 to 28.5 million tonnes in 2024, as detailed in the Global Copper Mining to 2030 report from leading data and analytics company GlobalData. Looking ahead, global copper demand is expected to grow at a CAGR of 3.8% to reach 35.1 million tonnes in 2030, as urbanization, infrastructure expansion and industrialization combine with the energy transition. Global copper mining production is projected to grow 2.1% in 2025 to 23.4 million tonnes, up from 22.9 million tonnes in 2024.<!-- HTML_TAG_END --></p> <p class="yf-1090901"><!-- HTML_TAG_START -->This year's accidents and disruptions have highlighted the fragility of the copper supply chain. Notable developments include an accident at Freeport-McMoRan's Grasberg mine in Indonesia, which accounted for 4% of global production in 2024 at 815,000 tonnes