Energy transition pressures metals markets

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Investment in new metal supply totalling $200 bn is essential to meet demand

The current metals super-cycle that is a major component of the global energy transition could stall due to a gloomy global macroeconomic environment, geopolitics and a lack of investment in new production facilities according to analysts from Wood Mackenzie. Speaking at a press briefing in London, Nick Pickens, Research Director of Global Mining at Wood Mackenzie told reporters that US$ 200 billion (bn) of new mining projects were required by 2030, as well as more efficient and creative methods of recycling existing scrap metals. “A 7-10-year lead time for new mining projects makes meeting supply/demand requirements difficult.” Pickens said. “Combined with... ... More: Official Press Release Wood Mackenzie

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Wood Mackenzie, metal, energy transition, copper, onshore, offshore, EV, solar, pressure, demand, super cycle, supply