Progress on Diversifying From Chinese-Backed Copper Sources Slow: Research

Wood Mackenzie forecasts that copper demand globally will surge 75 percent to 56 million tonnes by 2050.

Trucks loaded with copper prepare to leave Tenke Fungurume Mine, one of the largest copper and cobalt mines in the world, in southeastern Democratic Republic of Congo, on June 17, 2023. Emmet Livingstone/AFP via Getty Images

Diversification away from Chinese copper—a critical mineral needed for green energy—has been slow and could be costly, research shows.

“A scenario without China for the copper supply chain would require a substantial increase in processing capacity to meet energy transition targets,” said Nick Pickens, research director of global mining at Wood Mackenzie.