The rush for copper is likely to intensify due to AI and defense demand

The copper supply deficit is forecast to disappear in the coming years, intensifying competition among global mining companies for access to the metal, which is in high demand due to its important role in electrification.

Major miners such as BHP, Rio Tinto, Glencore and Fortescue have all struggled to secure access to copper as they expect the electrification of the global economy – from the rise of electric vehicles to renewable energy production – to skyrocket demand for the conductive metal.

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