We've known #Copper Production from existing mines has been set to fall sharply in the coming years, but it's just now we're realizing that, the "coming years" of the past, is today's present and immediate future… 😳
Miners need to spend more than $150 billion between 2025 and 2032–with the bulk of that needed in the next 5 years— in order to fulfill industry's supply needs, according to CRU.
In the past decade, new supply has come on line in part thanks to #China. Chinese-owned miners were responsible for about 40% of net increases in supply over the past decade, but that looks set to fall to 16% over the next five years, according to McKinsey and Co.
You can find more on the current state of the copper market here: Copper: Higher, Harder, Longer
See the whole article on Bloomberg here: https://www.bloomberg.com/news/articles/2024-04-28/bhp-mega-bid-and-10-000-copper-expose-mining-s-biggest-problem?
See more on the BHP bid for Anglo American here: BHP’s Bid for #AngloAmerican is Laden with Potential Pitfalls & Challenges
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