COPPER: DEMAND, SUPPLY, AND STRATEGIC IMPORTANCE IN THE FUTURE ECONOMY

Copper is a unique metal with exceptional physical and chemical properties, including high electrical and thermal conductivity, corrosion resistance, and recyclability. These characteristics make copper indispensable for modern technologies ranging from renewable energy systems and electric vehicles to AI-driven data centers and digital infrastructure.

Global copper reserves were estimated at 980 million metric tons in 2024, while identified and undiscovered resources exceeded 5,600 million metric tons. Global mine production reached 23 million metric tons, yet consumption surpassed 26 million metric tons, driven largely by China and other industrial economies. Average copper prices in 2024 stood at around $8,400 per metric ton, reflecting supply constraints and rising demand.

This thesis highlights copper’s strategic role in achieving net-zero goals, emphasizing the paradox between rising demand for green technologies and resistance to mining expansion. Declining ore grades (down 40% since 1991), increasing labor and energy costs, and tariff pressures necessitate innovative extraction technologies, automation, and expanded recycling. The study underscores the importance of adopting international standards and sustainable practices to ensure long-term supply security.