Teck Resources Faces Potential Strike at BC Copper Mine After Union Notice

As EV, renewable energy, battery energy storage, and power grid scale expand, global demand for energy transition metals is expected to continue growing. However, supply risks vary by commodity, with some markets facing potential shortages while others may encounter oversupply.The Transition Metals Outlook 2026 released by the institution highlights these diverging trends: copper faces the greatest long-term supply challenge, while lithium demand could triple by 2050. That said, the release of new mine capacity is expected to ease the lithium shortage in the near term and put pressure on prices as supply expands.

Southern Copper is evaluating a $680 million expansion of its Cuajone operation in Peru. The proposal would increase milling capacity by 33%, from 90,000 to 120,000 tonnes per day. Current estimates envisage average annual production of 55,000 tonnes of copper and 1,400 tonnes of molybdenum. The company is also studying whether capacity could eventually reach 150,000 tonnes per day. The project remains under evaluation, with no final investment decision or production schedule disclosed; its projected molybdenum output therefore cannot yet be treated as committed new supply.

MMG expects Las Bambas to produce approximately 400,000 tonnes of copper in 2026, near the upper end of its 380,000–400,000-tonne guidance. Kinsevere is also expected to reach the upper end of its 65,000–75,000-tonne copper range. However, Khoemacau’s guidance was cut to 43,000–48,000 tonnes from 48,000–53,000 tonnes following development delays and equipment availability constraints. Las Bambas produced 2,745 tonnes of contained molybdenum in the first nine months, up 33% year on year, with a molybdenum flotation column scheduled for Q4. MMG did not provide numerical full-year molybdenum guidance.