Copper was first used by man over 10,000 years ago. In 3500 B.C., fire and charcoal were used to smelt ores, and copper was alloyed with tin to create bronze, giving rise to the Bronze Age.

Copper remains indispensable to modern society, with its usage soaring by 5000% from 1900 to 2020.

One tonne of copper:

• powers 100,000 mobile phones
• enables operations in 400 computers
• distributes electricity to 30 homes
• brings functionality to 65 conventional cars, 26 hybrid cars, or 12 electric cars 

Electrification is expected to increase annual copper demand to 36.6 million metric tons by 2031, with supply forecast to be around 30.1 million tons, creating a 6.5 million ton shortfall at the start of the next decade.

Additionally, AI might double the size of copper’s supply deficit contributing an additional 5M MT by 2030.

Source: Copper Development Association

Sources: International Copper Association & Copper Development Association

Sources: McKinsey & Co. (2023) & International Energy Agency (2024)