By 2030, the amount of installed wind power globally will more than double, according to the International Energy Agency (IEA). Installed solar power will quadruple.
And the number of electric vehicles will increase 1,389% to 125 million from three million by 2030, and 3,333% in 2040 to 300 million, according to the IEA.
Given that each electric vehicle requires 83 kilograms of copper and each wind turbine contains about 3.5 tonnes of the metal, that represents a surging demand for copper as well as other base metals on a timeline that is shorter than what it typically takes to bring a new mine into production.
Georgian Mining Corporation (LON:GEO) has 50% ownership of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines.