Big Tree Copper expects copper demand to rise, Northern Cape to benefit
Copper mining waste reprocessing company Big Tree Copper CE Jan Nelson expects a steady climb in demand for copper over the next three decades, as the world has turned its full attention to sustainable energy and a greener economy.
Demand is expected to exceed supply, with an expected upward trajectory of about 16% to 20% by the end of the decade. At current production rates, a deficit of at least six-million tonnes is forecast. It is a key component in green energy, from electric cars to wind turbine power supply.
“Sating demand, even in the next 20 years, may be challenging at this pace. There is not enough exploration presently to allow for the development of viable sources in good time,” Nelson says.
Given the metal’s history in the market, he believes the wild-card nature of copper’s pricing will continue to see short- and near-term fluctuations, but a longer view forecasts an incremental upward trajectory.
“This is good news for South Africa and the Northern Cape. The province holds a substantial reserve of deposits and recyclable copper oxide waste. The current view is that there is at least a century of copper in the ground, with a potential provincial output of six-million to ten-million tonnes,” Nelson says.
He sees increased exploration interest in the area concomitant with growing economic activity. Coupled with increased recycling efforts and mining in other areas of South Africa, copper could become the new gold for South Africa, he states.
Recent panic over the conflict in Ukraine and its concomitant threat to Europe’s reliance on Russian energy resulted in a surge in copper prices to about $10 900/t. Pricing has since eased but, over the next few decades, demand should steadily increase, with a long-term view of 500% growth by 2050, Nelson says.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...
VISIT SHOWROOM
The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
