The reliance for copper will exceed that for oil

electric car metalsIt is expected that the demand for copper will be higher than for oil as the world advances towards electric cars. While regular combustion engine cars contain about 20kg of copper, electric cars require around 80kg of copper most of which is used in the battery (roughly 1/3 of total copper weight). Considering the ever increasing number of electric cars in the world, we can expect as many as 140 million electric vehicles on the road by 2035. This is equivalent to 11 million tonnes of copper.  Currently, the world production of refined copper is just under 20 million tonnes.  Of course, forecasting is just that but it does give us an indication of where the metals market is heading over the next 20 years.

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