BHP CEO Sees 10 Million mt Supply Deficit In Global Copper Market Over The Next Decade

BHP CEO Mike Henry stated at the China Development Forum last weekend that a 10-million-mt global copper supply gap is expected over the next decade. Over the ten years to 2034, 1.8 trillion yuan (US$250 billion) in growth capital expenditure will be needed for copper mining, a significant increase compared to the 1 trillion yuan (US$145 billion) invested over the past 10 years, but so far, only a small portion of this investment has been committed. Henry pointed out that, taking the construction boom of ultra-large data centers worldwide as an example, they will provide strong computing power support for AI development and require large amounts of copper. It is estimated that by 2050, the demand for copper from data centers alone will increase sixfold, rising from about 500,000 mt per year currently to nearly 3 million mt per year.

Note: This news is sourced from cls and translated by SMM.