Renewables and EVs Are Driving Copper Shortages Faster Than Expected

USA News Group News Commentary 

Issued on behalf of Usha Resources Ltd.

VANCOUVER, BC, Dec. 4, 2024 /CNW/ -- Energy Metals News – The global shift toward green energy is accelerating, but experts warn that a looming copper shortage could jeopardize efforts to provide clean and affordable energy. Swiss bank UBS predicts a supply deficit exceeding 200,000 tons by 2025, while the International Energy Forum emphasizes the urgent need for over a billion tons of new copper mining capacity annually through 2050. Recent declines in copper prices may not last long, as soaring demand from renewables and EV markets could quickly turn today's surplus into a shortfall. With copper mines taking years to reach production, immediate action is critical to secure future supplies. Mining exploration and development projects are already underway, with notable updates from Usha Resources Ltd. (TSXV:USHA.VN) (OTC:USHAF), Rio Tinto Group (NYSE:RIO), Taseko Mines Limited (NYSE-American:TGB) (TSX:TKO.TO), Capstone Copper Corp. (TSX:CS.TO) (OTCPK:CSCCF), and Amerigo Resources Ltd. (TSX:ARG.TO) (OTCQX:ARREF).