Critical Minerals Technology lead the way as the Canadian Government notes the importance of these minerals as the EV revolution continues to grow.

BMO Capital Markets recently stated that a deficit of 9 Million metric tonnes of copper by 2030 is forecasted.

Earlier in 2021, CRU Group reported the global copper industry needs to spend more than US$100B to build copper mines to able to close what could be an annual supply deficit of 4.7M tonnes by 2030.

Annual demand for zinc in batteries was only 600 tonnes in 2020 but that figure is projected to rise to 77,500 tonnes in 2030 - International Zinc Association (IZA)

Copper Demand by Source

Electrical and Electronic Products: 38.7%

Building Construction: 30.7%

Transportation Equipment: 11.4%

Consumer and General Products: 9.8%

Industrial Machinery and Equipment: 9.4%

Source: GFMS Copper Survey 2015

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There’s about 65 pounds (30 kilograms) of Copper in the average car, and more than 400 pounds go into a single-family home.

To put in perspective just how massive that shortage would be, consider that in 2021 the global deficit came in at 441,000 tons, equivalent to less than 2% of demand for the refined metal, according to the International Copper Study Group. That was enough to send prices jumping about 25% that year.

– BNN Bloomberg

Click image to enlarge.
Click image to enlarge.

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