Summary
– Electric vehicles require 3-5 times more copper than traditional cars
– Global copper mining cannot meet the demands of increasing EV production
– Hybrid vehicles are suggested as a feasible alternative to manage copper scarcity
– Future copper needs require a massive increase in mining production
– Balancing copper allocation between energy transition and infrastructure needs is crucial.
Article
The University of Michigan study underscores a looming copper shortage that poses a threat to the global shift towards electric vehicles (EVs). The study indicates that current copper mining rates are insufficient to meet the escalating demand for the metal as the transition to EVs accelerates. Due to its exceptional electrical conductivity, copper is crucial for various technologies, including EVs, electrical grids, and infrastructure development.
Electric vehicles require three to five times more copper compared to traditional petrol or diesel cars. As policies worldwide advocate for rapid electrification of vehicles, the demand for copper is expected to skyrocket. The study highlights that the amount of copper needed for EV production is unsustainable for mining companies to achieve. To address this challenge, researchers suggest focusing on hybrid vehicles as a more viable alternative to manage the scarcity of copper.
The University of Michigan study delved into 120 years of global copper production data to reveal critical findings. With over 709 copper mines worldwide, the demand for copper by 2050 is projected to be 115% more than all the copper mined in human history up to 2018. To meet the demands of electrifying the global vehicle fleet, the study estimates that six new large copper mines need to be opened annually for several decades.
Given the limitations of copper mining, the study proposes a reevaluation of the approach to electrification. Instead of solely focusing on full electric vehicles, hybrid vehicles could provide a more sustainable solution. Researcher Adam Simon emphasized the importance of reconsidering the balance between producing battery EVs and hybrid vehicles to address the copper supply challenge.
Aside from the implications for electric vehicles, the scarcity of copper has broader impacts on sectors such as infrastructure development in developing countries. The study highlights the potential tension between the demand for copper in the global energy transition and the need for infrastructure in regions lacking access to electricity. Policymakers are encouraged to consider copper allocation as a critical factor in the energy transition and to strategize how copper resources are distributed effectively.
In conclusion, the University of Michigan study sheds light on the significant hurdle posed by the supply of copper in the transition to electric vehicles. With the current trajectory of copper production, meeting the demands of full electrification appears unattainable. As policymakers navigate the challenge of balancing copper allocation between the energy transition and infrastructure development, alternative solutions such as hybrid vehicles may offer a pragmatic path forward to manage the impending copper shortage and ensure a smooth transition to green energy.
Read the full article here
