Commissioned by the International Copper Association (ICA), a study from Wood Mackenzie explores the positive socio-economic impact of the copper sector. The research demonstrates how the industry can maximize socio-economic impact for mining communities by remaining socially equitable, economically beneficial and environmentally sustainable.
The clean energy transition is expected to cause copper demand to double by 2050. Responsible mining processes will be critical to protect the interests of local communities as mining companies work to meet this demand. Copper production generates significant socio-economic value with a long-lasting impact on society. These impacts can be grouped into two categories: elevating livelihoods and distributing economic value.
These key socio-economic impacts demonstrate that the copper industry provides significant economic value, averaging approximately $73 billion per year globally. Through partnerships between the mine operators, government regulators and local communities, the copper industry will continue to provide these benefits.