Demand for copper is surging. The purple metallic, thought-about a barometer for financial well being, is a crucial element for the development and protection industries in addition to a key ingredient in electrical automobiles, wind generators and the facility grid. Offshore wind, for instance, requires about “3 times as a lot copper as does coal-fired energy era when it comes to tons per gigawatt of capability.” However mining corporations are having a tough time maintaining. Globally, present mines and tasks underneath development will meet solely 80% of copper wants by 2030. To maintain up with demand the trade is confronted with a lot of obstacles. together with the scarcity of mining employees, navigating regulatory hurdles in addition to pushback from native stakeholders. So what influence will the looming world copper scarcity have on the transition to renewable power sources? To have a look at the challenges dealing with copper producers, CNBC received a behind the scenes have a look at Rio Tinto’s Kennecott mining operation exterior of Salt Lake Metropolis the place about 200,000 metric tons of copper are produced yearly.
Chapters:
0:00-2:22 Introduction
2:23-5:15 Chapter 1 Copper demand
5:16-7:12 Chapter 2 Corporations
7:13-10:45 Chapter 3 Mining within the U.S.
Produced and Shot by: Shawn Baldwin
Edited by: Nic Golden Henry
Supervising Producer: Jeniece Pettitt
Animation: Jason Reginato
Further Footage: Getty Photographs, Daniela Zavala
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Why Copper Demand Is Skyrocketing
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