Copper
Outlook for key energy transition minerals
This report is part of Global Critical Minerals Outlook 2025
About this report
This report provides an outlook for demand and supply for key energy minerals including copper, lithium, nickel, cobalt, graphite and rare earth elements. Demand projections encompass both key energy technologies and other uses under different IEA Scenarios. Supply projections are based on a detailed review of all announced projects. They show how today's geographical concentration evolves over time, for both mining and refining and how expected supply compares with primary supply requirements.
Cu
Copper
Top three producers 2030
| STEPS | 2021 | 2024 | 2030 | 2040 |
|---|---|---|---|---|
| Cleantech demand (kt) | 6002 | 7737 | 10 910 | 12 162 |
| Other uses (kt) | 18 944 | 18 980 | 20 438 | 21 975 |
| Total demand (kt) | 24 946 | 26 717 | 31 348 | 34 137 |
| Secondary supply and reuse (kt) | 4 123 | 4 441 | 5 431 | 8 702 |
| Primary supply requirements (kt) | 20 851 | 22 503 | 25 917 | 25 428 |
| Share of top three mining countries | 46% | 48% | 50% | 53% |
| Share of top three refining countries | 57% | 59% | 60% | 60% |