The IEA Warns: Copper Supply to Face a 30% Deficit by 2035  

On Monday, December 1, Shobhan Dhir, a critical minerals analyst at the International Energy Agency (IEA), stated at the annual meeting of the Critical Minerals Association that the copper market is facing a supply deficit, which could reach 30% by 2035. This would make copper one of the most vulnerable links in the global supply chain supporting the energy transition and the development of artificial intelligence.

Unlike lithium, whose supply is emerging in multiple regions such as Zimbabwe and Argentina, copper supply faces structural constraints that are difficult to overcome through rapid capacity increases. The anticipated copper supply shortage stems from declining ore grades, rising capital costs, and excessively long project development cycles. These factors make scaling up copper production particularly challenging compared to other critical minerals.

"Copper is a mineral we are truly concerned about," said Dhir. "...Therefore, it is a very challenging mineral to rapidly increase supply. So we are particularly focused on this, and I would like to emphasize that this is one of the key global issues in the future."

Please note that this news is sourced from https://m-q-news.wenhua.com.cn/newshare/#/share/20251202000018?ver=7.5.4 and translated by SMM.