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As global governments push for a rapid transition to electric vehicles and to wind and solar power, they are creating a demand for copper that threatens to undermine the very goals they seek to achieve.
According to a recent International Energy Forum report, electrifying the global vehicle fleet would require the opening of 55% more new copper mines than are already needed, and twice the total amount of copper that has ever been mined throughout human history over the next three decades. //
Since copper is a core component in electronics, raising the cost of copper makes it far more difficult for developing areas of the world to access energy. Copper is a crucial component in electric vehicles. A typical EV requires nearly 200 pounds of copper, or about four times the amount needed for a combustion-engine vehicle. //
The energy industry is facing government mandates for wind and solar. A typical 3-megawatt wind turbine requires 9 tons of copper, more than the weight of a school bus. Wind power requires more than seven times the amount of copper to produce the same amount of energy that natural gas or coal does, and five times the copper as nuclear power. //
Policymakers pushing for a rapid shift to EVs and renewables are also responsible for the red tape in mining for critical minerals. Without more mining, the planned EVs won’t be built. Even Chinese critical materials won’t get America all the way to its EV targets.