A new report by S&P Global Market Intelligence explores unique opportunities for the U.S. in sourcing copper, vital for energy transition.
McLean, VA. – A new report, Copper in the US: Opportunities and Challenges, released today by S&P Global Market Intelligence, explores the unique opportunities the United States has in sourcing copper, a critical mineral for the energy transition. As global demand for copper—the “metal of electrification”—continues to rise, the U.S. must confront long development times for domestic mines, the need for expanded refining and recycling efforts, and its reliance on imports.
“Copper demand is rising as society enters a new era of electrification and digitalization,” said Adam Estelle, President and CEO of the Copper Development Association (CDA). “With approximately 275 million metric tons of copper reserves and resources in U.S. soil, America is well positioned to be self-reliant in meeting copper demand for generations to come. However, we must be strategic to ensure our copper endowment can be accessed and supplemented. This requires an all-of-the-above approach that combines increased domestic mining and refining, increased recycling, and continued trade with reliable partners.”
CDA and its members are committed to bringing the value of copper to society responsibly and sustainably. The Association calls on policymakers to give copper credit by designating it as a Critical Mineral on the USGS list. This designation would attract significant investment in production, refining, and recycling, and help streamline the permitting process, empowering the U.S. to access its abundant copper endowment.
“It’s time to invest in a stronger, more resilient U.S. copper supply chain,” said Estelle. “An all-of-government approach, which includes adding copper to the USGS Critical Minerals list, is required to address the opportunities ahead and to secure the metal of electrification for our nation’s future.”
About the Study
Copper in the US: Opportunities and Challenges is available here. S&P Global’s study offers an independent and objective assessment of the main ways in which the U.S. can meet its projected copper demand in the coming years. The study was supported by the Copper Development Association (CDA). The scope of the study was agreed with the CDA, but the Association did not provide data or substantive input to the report. S&P Global Market Intelligence is solely responsible for the analysis and conclusions in the report.
About Copper Development Association
The Copper Development Association is the not-for-profit trade association of the North American copper industry, chartered to bring the value of copper and its alloys to society through pre-competitive research, market development/promotion, and education, as well as technical and end-user support. CDA is proud to be a strategic partner of the International Copper Association (ICA), a powerhouse of expertise committed to promoting, protecting and defending copper around the world.
About S&P Global
S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world. We are widely sought after by many of the world’s leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world’s leading organizations plan for tomorrow, today. For more information visit www.spglobal.com.
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