CopperCorp CEO Steve Swatton talks about copper’s new designation as a critical mineral in Canada.
It’s official—last year, Natural Resources Canada added copper to its list of critical minerals.
By NRC’s definition, critical minerals are “…considered critical for the sustainable economic success of Canada and our allies.” The metals are also required for Canada’s transition to a low-carbon economy.
Most developed countries publish lists of critical metals based on the country’s particular needs for industry, infrastructure and defense. Nearly all include a high supply chain risk with their criteria, for which copper certainly qualifies.
We know that copper demand, due mainly to expanding construction/infrastructure, green energy development and electric vehicle growth, is outstripping supply. Over 200 of the world’s copper mines will likely run out before 2035.
As noted by S&P Global Market Intelligence:
“A deficit in the copper market is set to deepen over the next several years as supply of the widely used metal struggles to keep up with strong demand from the power and construction sectors, compounded by the proliferation of electric vehicles.”
Within ten years, we may need 900% more of the copper used for EVs and battery metal products to meet humanity’s greatest challenges.
It’s a critical problem for a critical metal.
Many of the world’s largest copper companies clearly agree. Knowing they must replace rapidly depleting copper reserves and resources, they’re scrambling to expand existing mines and acquire quality new deposits.
Which is where CopperCorp comes in. We formed CopperCorp to help meet this critical demand by discovering and developing new, economic copper deposits—but to explore and operate sustainably, in secure jurisdictions with stable, responsible governments.