Clayton Walker, CEO of Rio Tinto, mentioned that the world will need as much copper as it has been mined in the past 600 years to meet the green energy transition in the next 25 years.

In order to reach the global of zero carbon emissions over the next 30 years, the world needs a green energy revolution, and copper will play a key role. By 2050, accelerated electrification of the grid will increase copper demand by about 5 million tons.

Meanwhile, the copper demand for each electric vehicle is 80 kilograms, compared to conventionally powered vehicles' around 20 kilograms of copper.

Therefore, these factors caused a continuous shortage in copper supply, which only could be fulfilled by developing new projects, extending the life of mines, and exploring new sources.