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Copper Demand & Long-Term Availability

Copper Substitution Remains Low in 2020

Net substitution stood at 0.95 percent of total global copper use in 2020 New research, commissioned by ICA, revealed that copper continues to offer the best cost-performance combination for many…

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Power Electronics Set to Increase Copper Use

Widespread adoption of power electronics devices in electric vehicles and renewable energy sources to increase copper demand New research, commissioned by ICA, explores opportunities for copper within power electronics –…

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Megatrends to Increase Copper Demand

Global megatrends across several industries to increase long-term copper demand. Updating an initial study completed in 2019, Metra Martech’s research finds that despite the sector experiencing the effects of the…

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The Promise and Limits of Urban Mining

Urban Mining is a concept that emphasizes the potential of cities, the human habitat and built environment as a source of raw materials. New research, commissioned by the International Copper…

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Copper Demand & Long-Term Availability

Due to geological availability, emerging technologies and industry innovation, copper will continue to contribute to society’s sustainable development goals. As global copper use continues to rise, meeting this demand will require additional copper mining and recycling sources.

COPPER RESERVES & RESOURCES

The future availability of minerals is based on the concept of reserves and resources. Reserves are deposits that have been discovered, evaluated and assessed to be profitable. Resources are far larger and include reserves, discovered and potentially profitable deposits and undiscovered deposits predicted based on preliminary geological surveys. Copper is naturally present in the Earth’s crust.

Global copper reserves are estimated at 870 million tonnes (United States Geological Survey [USGS], 2020), and annual copper demand is 28 million tonnes. These copper resources are estimated to exceed 5,000 million tonnes (USGS, 2014 & 2017).

According to USGS data, since 1950 there has always been, on average, 40 years of copper reserves and over 200 years of resources left, which include reserves, discovered and potentially profitable deposits and undiscovered deposits predicted based on preliminary geological surveys.

INNOVATION IN COPPER RECYCLING AND MINING

Copper recycling plays an important role in copper availability since today’s primary copper is tomorrow’s recycled material. The recovery and recycling of copper also helps to satisfy the increasing demand and to build a sustainable future for future generations.

During the last decade, more than 30 percent of annual copper use came from recycled sources. Future innovative policies and technologies should continue to contribute to resource efficiency in mining “primary” copper and recycling “secondary” copper.

View or download full infographic here.

More detailed information, resources and materials are available on copper recycling, ICA briefing note on copper’s long-term availability and copper stocks and flows.

FAQs

Are we going to run out of copper?

It is highly improbable. Historically (USGS data), there has always been, on average, 40 years of reserves and 200 years of resources left since 1950. In addition, recycling, innovation and mining exploration continue to contribute to the long-term availability of copper.

What is the difference between reserves and resources?

Reserves are deposits that have been discovered, evaluated and assessed to be economically profitable. Resources are far greater and include reserves, discovered deposits which are potentially profitable and undiscovered deposits that are predicted based on preliminary geological surveys.

What is the amount of copper reserves?

870 million tonnes (USGS, 2020).

What is the amount copper resources?

The total amount of copper resources is defined as the sum of undiscovered resources (3,500 million tonnes) and identified resources (2,100 million tonnes) minus the 550 million tonnes of copper mined since 1900 (USGS, 2014).

  • About Copper
  • Copper Demand & Long-Term Availability
  • Stocks and Flows
  • Copper Alloys
  • Copper Attributes
  • Copper: An Essential Resource

THE VALUE OF MEMBERSHIP

ICA’s members represent a majority of global copper production, and include many of the largest copper and copper-alloy fabricators. ICA’s status as a not-for-profit trade association provides its members with a credible, independent advocate to address challenges faced by the collective industry.

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