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Copper demand to increase by 1mt a year until 2035, says BHP
Global mining giant BHP released a report on Monday (30 September) stating that the energy transition is expected to increase copper demand by one million tonnes (mt) per year until 2035. The energy transition has seen an influx of copper-intensive technologies deployed, leading to the global production rate of copper doubling. In the report entitled ‘BHP Insights: how copper will shape our future’, BHP stated that global copper demand registered a 3.1% compound annual growth rate (CAGR) over the past 75 years. This growth rate slowed to 1.9% in the 15 years leading up to 2021, but BHP expects the CAGR to ... (full story)