NPR: US may face copper smelting capacity shortage due to trade tensions

Critical metals are essential for the US transition to renewable energy sources and for the production of electric vehicles. According to NPR experts, copper is one of the key components needed to achieve this goal.

Copper has been mined for thousands of years. However, its consumption has surged dramatically over the past two decades. This has driven copper's value to increase by nearly 75% since 2020.

Yet, the world's largest copper producers, Chile and Peru, are struggling to meet the demand for the industrial metal amid a global shortage, NPR noted.

According to BHP, existing plants are expected to produce approximately 15% less copper in 2035 compared to 2024.

NPR strategists note that US demand for industrial metals is rising, necessitating the development of new deposits. However, lengthy site exploration timelines and the fact that only two US plants can process copper raw materials pose significant challenges.

According to experts, Canada previously handled such matters. Now, amid escalating trade tensions, the United States risks losing a strategic partner.