Copper consumption will duplicate by 2040, driven by clean technologies that are necessary to lower the carbon footprint and reach worldwide net zero goals.
MAIN DRIVERS OF THE INCREASE FOR COOPER DEMAND
EV
0
%
CLEAN ENERGIES
0
%
GRID
0
%
Source: Wood Mackenzie
Also, with the depletion of oxides deposits, hydrometallurgy production is losing ground against pyrometallurgy, which has historically been less eco-friendly than hydro.
CO2 EMMISIONS PER UNIT OF COPPER PROCESSED
(Tonnes of CO2 /Tonnes of Cu)
WATER CONSUMED PER PROCESS
(M³ per tonne of mineral)
MJ/MTON OF ELECTRICITY CONSUMED BY PROCESS
Source: Cochilco and CarbonChain.com
Other issue with Pyrometallurgy are the tailings generated that need to be treated upon closure. This is not the case with Hydrometallurgy, which doesn't leave tailings behind.
Finally, with oxide depletion, there is a lot of idle capacity for hydrometallurgical processes. With the higher copper recovery, this capacity will be utilized, improving operations efficiency through economies of scale and lower operational costs.
