Widely used in renewable energy technologies for its conductivity, copper accounts for 70% of total consumption of critical raw materials for the energy transition, with over 31 Mt of copper used in 2021 (source: ICSG). Given its strategic use, it’s only natural for copper to be included in the European Commission’s list of critical raw materials for 2023. Demand for this metal is indeed set to rise by 45% between now and 2030, corresponding to an annual increase of just over 1Mt/year.
According to the IEA, the expected global gap between primary production and demand in 2030 is likely to reach 5 Mt if no further investment is made in mining. To bridge this gap, recycling will also be needed, as recycled copper will account for around 33% of global consumption in 2021, according to the ICSG. This is a lever that should not be neglected, as copper is one of the few raw materials that can preserve its physical and chemical properties during the recycling process.
Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.
