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Copper Faces Long-Term Shortage as Demand Outruns Supply

  • BHP CEO says metal may swing to a deficit by end of the decade
  • Trafigura’s Bintas warns over near-term copper supply stress
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Source: Bloomberg

The copper market may swing to a deficit by the end of the decade as the energy transition accelerates and the metal becomes harder to dig up, according to the world’s top miner.

Although there are enough reserves of copper, and other metals like nickel and lithium central to decarbonization, the risk is there will be “a mismatch between the timing of increase in demand and when supply meets that demand,” Mike Henry, chief executive officer of BHP Group Ltd., said at a Financial Times mining conference in London on Friday.