Figure 50.

Potential mismatch between growth in copper demand vs available mining resources, plotted for different mine supply scenarios. The term “AET-2 scenario” refers to an accelerated energy transition case, in which particularly high volumes of copper would be needed. This scenario assumes a market demand for copper propelled by electrification and renewable technology investments, to limit the average global temperature increase to 2 °C (according to the Paris Agreement) above 1990 levels. It would increase copper demand growth to 3.5% per year. The base case demand scenario refers to a case where the demand for primary copper is set to grow by an average of around 2% per year over the next 20 years. Numbers and estimates are from ref (197). Mt, million metric tonnes. The figure is reproduced with permission from ref (197). Copyright 2019, Wood Mackenzie.