Demand for copper is surging. The red metal, considered a barometer for economic health, is a vital component for the construction and defense industries as well as a key ingredient in electric cars, wind turbines and the power grid. Offshore wind, for example, requires about “three times as much copper as does coal-fired power generation in terms of tons per gigawatt of capacity.” But mining companies are having a hard time keeping up. Globally, existing mines and projects under construction will meet only 80% of copper needs by 2030. To keep up with demand the industry is faced with a number of obstacles. including the shortage of mining workers, navigating regulatory hurdles as well as pushback from local stakeholders. So what impact will the looming global copper shortage have on the transition to renewable energy sources? To look at the challenges facing copper producers, CNBC got a behind the scenes look at Rio Tinto’s Kennecott mining operation outside of Salt Lake City where about 200,000 metric tons of copper are produced annually.
Chapters:
0:00-2:22 Introduction
2:23-5:15 Chapter 1 Copper demand
5:16-7:12 Chapter 2 Companies
7:13-10:45 Chapter 3 Mining in the U.S.
Produced and Shot by: Shawn Baldwin
Edited by: Nic Golden Henry
Supervising Producer: Jeniece Pettitt
Animation: Jason Reginato
Additional Footage: Getty Images, Daniela Zavala
» Subscribe to CNBC:
» Subscribe to CNBC TV:
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024:
Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Instagram:
Follow CNBC News on Facebook:
Follow CNBC on Threads:
Follow CNBC News on X:
Follow CNBC on WhatsApp:
#CNBC
Why Copper Demand Is Skyrocketing
[ad_2]
source
Don't think so, asked my fiance if she wanted a copper wedding ring and she declined. 🙂
Catch an exclusive interview with Binance’s CEO to get the scoop on future developments
Business alert: navigating the refund procedure efficiently
Binance's CEO opens up about future developments in an exclusive interview
Open this email ASAP – it's kinda urgent!
Don't miss out on a chat with Binance's CEO about the future – exclusive interview
Don't miss the exclusive interview with Binance's CEO for a glimpse into the future
Check out the scoop on Binance CEO's exclusive interview for the inside track on future developments
БАМ!) Вот так заход)) красава, давай еще такие видосы!
System error alert: transaction's unexpected detour to an invalid email!
Импорт експорт gold and swiss franc , national bank Zurich ok2024😊
Not a beep about seabed mining, which is going to be a big thing and will make a lot of these problems relatively irrelevant in the end.
We need massive amounts of copper for EVs. We have no choice, if we want to convert to all EVS. Biden must invade some country rich in copper so we can have plenty for the EV transition.
arizona sonoran copper
Sharing some great quotes of Mahatma Gandhi 👇
Strength does not come from physical capacity , it comes from an indomitable will .
THE FUTURE DEPENDS ON WHAT YOU DO TODAY .
BE THE CHANGE YOU WISH TO SEE IN THE WORLD .
IN A GENTLE WAY , YOU CAN SHAKE THE WORLD .
Happiness is when what you think , what you say and what you do are in harmony .
A sign of a good leader is not how many followers he has but how many leaders he creates .
Jai hind 🇮🇳
Increase demand for copper increases demand for other almost tapped out materials, like I don´t know. Peru and Chile are building deep ports in the Pacific to export anything bulk up North. No need to use the Canama Panal. Gold and Silver are also is shipped that way.
No copper producing country wiĺl benefit.
3x as much copper for wind turbines? THAT! Is an enviro scam
Henry Munoz is a farce!
Me looking at my old pennies like
$$ 👀
Sounds really green to me. What a joke.
It's true¡¡
no technology are possible without copper. all electrical and electronic circuits begins with copper only.
How do we get permits for more mines.?
I wonder if it has anything to do with the practices of mining companies being bad? Like not cleaning up after themselves or properly clearing sites after they are done. Or leaving toxic waste waters in their mines for all of it to leak out years later into the fresh water supply.
I'm glad there is pushback and I'm disappointed that the video did not cover any poor practices done by these mining companies that exploit 3rd world countries or destroy nature because they put 0 effort or money into clean up or returning the site back to normal.
Nonsense. The so-called green energy industry is a farce, and more people and major companies are waking up. The grift is over. Please somebody tell me the most effective way to short copper futures.
Or better recycle