Copper
December 19, 2024
2 min
Copper
A recent S&P Global report reveals that the average time for copper mines to transition from discovery to production has lengthened significantly. Globally, this process now takes about 17.9 years, with the United States experiencing even longer timelines—nearly 29 years on average.
Zambia is the only country surpassing the U.S., with a staggering 34-year average.
Key contributors to these delays include lengthy permitting processes, regulatory challenges, and investment uncertainties. These bottlenecks contrast sharply with surging demand for copper, fueled by its critical role in technologies like electric vehicles and renewable energy infrastructure.
This growing supply-demand gap poses serious risks to meeting future copper needs, particularly as nations accelerate decarbonization efforts. Complex regulatory systems in the U.S. and elsewhere exacerbate these delays, making it difficult for new projects to meet rising global demand.
Worryingly, many projects are stalled before they even reach the development phase. Of 239 major discoveries analyzed in the report, 148 remain undeveloped, with 121 still undergoing feasibility studies. Only 15 have reached the construction stage and begun development.
Without significant reforms in permitting and development processes, the copper industry may struggle to meet the demands of a rapidly electrifying world.
Sponsored by:
Arras Minerals is a mining exploration company focused on copper and gold projects in northeast Kazakhstan, with key assets including Elemes, Tay, and Beskauga. The company also partners with Teck Resources on a 1,900 sq km exploration area funded by Teck. Arras aims to expand exploration in Kazakhstan's prolific mineral belts, leveraging untapped potential through drilling and geological surveys to define resources and grow its portfolio.
Learn more about Arras Minerals at https://www.arrasminerals.com/
S&P Global Market Intelligence
The information presented here may contain inaccuracies and is subject to rounding. We do not guarantee that all information is complete or correct. We accept no responsibility for any errors, omissions, or outcomes resulting from the use of this information. This is not investment advice.
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