Copper development company Highland Copper Company Inc is making significant progress at its key projects as it works to strengthen the US copper supply chain.
It is well documented that the US needs copper supply. Quite simply, demand for copper is far outstripping projected supply. This is particularly the case in the US, where demand is projected at three times supply by 2035.
Traditional sources of demand, like construction and transportation, remain strong. Importantly, new sources of demand, like electric vehicles (EV) batteries, wind, and solar, have heavily emerged.
Copper is at the forefront of metals needed for use in green technologies. As the most efficient and affordable electrical conductor, it is the perfect material for electric car infrastructure and charging stations. While conventional vehicles contain some copper, hybrid electric and other battery-powered cars require three times more than internal combustion engine vehicles.
Key economies worldwide, including the US, are adopting clean energy initiatives, continuing to drive demand. Increased environmental legislation around the world, combined with ambitious targets set by car producers and consumers alike, is seeing demand for copper soar. The ongoing focus on environmental, social and governance (ESG), as well as zero emissions, should see the demand continue.
There is a fundamental imbalance between supply and demand, leading to a squeeze on global copper inventories. It is only by developing the next generation of copper mines that the industry can meet the demand of today, let alone the future.
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