Copper cannot be mined quickly enough to keep up with current policies requiring the transition to electric vehicles (EVs), according to a University of Michigan study.
Copper is fundamental to electricity generation, distribution and storage. According to GlobalData, there are more than 709 copper mines in operation globally, with the largest being the Escondida mine in Chile, which produced an estimated 882,100 tonnes of copper in 2023.
This may sound like a lot but with electrification ramping up globally it is not. The Michigan study, Copper mining and vehicle electrification, has focused on the copper required just for the production of EVs over the coming years.