electronicroulettewheel| Demand for copper from new technologies has surged, and there may be a shortage of 10 million tons by 2030!

May eleventhElectronicroulettewheelCopper is crucial for clean energy applications such as solar panels, wind turbines and electric cars, according to ZeroHedge, a financial website. It is estimated that by 2030, copper demandElectronicroulettewheelThe continuous growth will create a supply shortfall of 10 million tons. Early investors in copper mining companies are likely to benefit from rapidly growing demand.

Copper is essential for clean energy applications such as solar panels, wind turbines and electric vehicles, as well as for expanding the power grid. Driven by the growing popularity of these technologies, demand for copper has surged, providing a unique investment opportunity for early investors in copper mining companies.

Sprott Asset Management has produced a chart that explores the widening gap between supply and demand for copper by 2050.

The earth is naturally rich in copper, but extracting the metal at the speed necessary for an electrified economy can be a challenge. The time from discovery to production of copper mine is very long, with an average of more than 16 years.

Top miners such as Chile and Peru are facing strikes and protests and ore grades are declining. Russia, the seventh largest copper producer in the world, is expected to face a decline in production because of the ongoing war in Ukraine.

At the same time, the increasing use of carbon-free technology will only highlight the importance of copper.

According to the financial website ZeroHedge, the demand for copper in the transportation sector is expected to increase by 11% by 2050 compared with 2022.ElectronicroulettewheelThe demand for copper needed to expand the global power grid is expected to increase by 4% over 2022.Electronicroulettewheel.8 times.

By 2030, the copper supply gap is expected to be close to 10 million tons, and both copper prices and overseas copper stocks are likely to benefit.

As the world embraces clean technology, finding and expanding copper mines will be crucial. Early investors in copper mining companies are likely to benefit from rapidly growing demand.

LME copper daily chart