Feb 18, 2026 01:48 AM
https://www.eurekalert.org/news-releases/1116903
INTRO: The price of copper must at least double in order to spur the development of new copper mines to meet the world's growing demand for the metal, according to a team led by a University of Michigan researcher.
A research team led by U-M geologist Adam Simon examined barriers to producing the copper necessary to meet demands for the metal under different scenarios. They found that meeting basic copper demand is possible, but will require higher prices and reforms to the permitting process to encourage mining.
In order to meet "business as usual" demands for copper—the normal socioeconomic development of infrastructure, electricity, heating, cooling and other modern technologies—the world will need about 37 million tons of copper per year by 2050. That's compared to about 23 million tons mined in 2025. However, to switch to energy provided by 100% renewable resources, and all-electric vehicles, that need jumps to 91.7 million tons per year.
Either way, we will have difficulty meeting that demand if the price of copper does not rise, or if the ability to mine it does not become streamlined, according to Simon, U-M professor of earth and environmental sciences, and his co-authors. Their perspective paper is published in the journal Energy Research & Social Science.
"Copper is the fundamental linchpin for socioeconomic development, acting as the connective artery for infrastructure, digital intelligence, and electricity generation, transmission and storage. Without substantially increasing copper supply, global development will not happen," according to Simon.
The price for copper, which currently sells for about $13,000 per ton, needs to at least double in order to incentivize mining companies to pursue new mines, according to the researchers. To determine this number, the researchers used industry reports, databases and confidential merchant bank data to calculate how much it cost to develop existing mine projects across the world. (MORE - details, no ads)
INTRO: The price of copper must at least double in order to spur the development of new copper mines to meet the world's growing demand for the metal, according to a team led by a University of Michigan researcher.
A research team led by U-M geologist Adam Simon examined barriers to producing the copper necessary to meet demands for the metal under different scenarios. They found that meeting basic copper demand is possible, but will require higher prices and reforms to the permitting process to encourage mining.
In order to meet "business as usual" demands for copper—the normal socioeconomic development of infrastructure, electricity, heating, cooling and other modern technologies—the world will need about 37 million tons of copper per year by 2050. That's compared to about 23 million tons mined in 2025. However, to switch to energy provided by 100% renewable resources, and all-electric vehicles, that need jumps to 91.7 million tons per year.
Either way, we will have difficulty meeting that demand if the price of copper does not rise, or if the ability to mine it does not become streamlined, according to Simon, U-M professor of earth and environmental sciences, and his co-authors. Their perspective paper is published in the journal Energy Research & Social Science.
"Copper is the fundamental linchpin for socioeconomic development, acting as the connective artery for infrastructure, digital intelligence, and electricity generation, transmission and storage. Without substantially increasing copper supply, global development will not happen," according to Simon.
The price for copper, which currently sells for about $13,000 per ton, needs to at least double in order to incentivize mining companies to pursue new mines, according to the researchers. To determine this number, the researchers used industry reports, databases and confidential merchant bank data to calculate how much it cost to develop existing mine projects across the world. (MORE - details, no ads)