The known copper deposits and therefore also the copper reserves have increased steadily over the years. Experts assume that this trend will continue in the future. According to USGS data, an average of 40 years of copper reserves and over 200 years of copper resources have been available since 1950 - in discovered and undiscovered deposits. These copper resources currently amount to a total of 5,600 million tons (USGS, 2024).
Broad access to copper deposits
Unlike other raw materials, the extraction of copper is not dependent on a specific country or region. Copper supply chains worldwide are not focused on just a few suppliers or supplier countries, which means that the risks of limiting access are lower than for critical raw materials such as rare earths. This leads to greater stability for the copper market.
Technical developments optimize copper mining
New copper mining techniques allow deep exploration in difficult areas and the extraction of more complex ores. Several copper mine projects are currently being examined or developed, which will contribute to the growth in supply. Global mine production currently stands at around 22 million tons of copper, with a mine capacity of 27 million tons.
Circular economy as an urban copper mine
In addition to the mining of ore, the recycling of copper materials has become an important source of raw materials. Recycled copper currently covers more than 35 percent of global demand. Recycling and the expansion of the circular economy are of great importance for the availability of copper in Europe and here in Germany. An additional benefit: copper production from secondary materials only requires a maximum of 20 percent of the energy needed to extract primary copper from ore and concentrates. Globally, this saves around 100 million MWh of electrical energy and reduces CO2 emissions by 40 million tons annually.