The world’s top lender says Australia is likely to see a sixfold jump in demand for its metals, including copper, as zero emissions becomes globally critical.
In particular the International Monetary Fund (IMF) said an expected 15% rise in the global metal price index will not only boost our yearly economic growth by 1%, but see the so-called “critical metals” market hit AUD$17.6T in next 2 decades.
And they specifically named copper, nickel, lithium and cobalt as the top four energy transition metals forecast to see big jumps in prices and production.
In fact the IMF says copper production would need to double under the global race toward net zero by 2050, as the red metal helps fuel everything from clean energy to electrification and new technology. The demand for the other 3 metals will be even higher.
Its great news for our copper companies, but it comes with some critical responsibilities, namely making sure miners are rapidly moving toward sustainable & green production & processing…..their own net zero goals.
The Reserve Bank just recently said Australia might miss global investment opportunities if we don’t make significant commitments to the new green economy. That drills down to individual companies too.
It’s great to be part of the copper story with its world changing potential, but we also need to make sure we’re showing the public we really mean business.
Cheers, John Fennell
