- Copper is expected to play an increasingly important role in powering the world’s transition towards net zero technologies
- The average electric vehicle can contain up to 183lbs of copper, a massive 277% increase relative to internal combustion engine cars
- The surge in copper demand is expected to drive a necessary increase in supply, requiring an additional 9.7 million metric tons (Mt) production per annum by 2031. With a deficit of 114,000 tonnes projected for 2023, the copper supply is anticipated to remain in deficit by the beginning of the next decade with a forecasted shortfall of 6.5 Mt
- Torr Metals is looking to fill that supply imbalance through two ongoing highway-accessible copper-gold porphyry projects within two of Canada’s most prolific copper mining districts
- Recent findings in the company’s Kolos Copper-Gold Project have been extremely promising and suggestive of a significant new copper porphyry discovery, within 30 kilometers of Canada’s largest open pit copper mine at Highland Valley
Global warming has become an undeniable force around the globe, with news of widespread droughts, record temperatures, forest fires, and ravaged agricultural harvests increasing in frequency. In response, global leaders came together during 2021’s COP26 event in Glasgow to propose a global Net Zero initiative, aimed towards achieving a balance between global greenhouse gas (“GHG”) emissions and those being removed from the atmosphere. Whilst a number of countries have since published their own legislation, detailing the measures and timeframes through which they expect to achieve a net zero status, there is a common consensus amongst all – the change will not be easy. Forecasts by the International Energy Agency now suggest that to reach global net zero emissions by 2050, annual clean energy investment around the globe will need to more than triple to approximately $4 trillion per annum by 2030 (https://ibn.fm/rDqO8).
The shift away from fossil fuels and towards renewable energy sources is resulting in a spending surge which is set to directly benefit businesses entrenched within the global renewable energy supply chain; in particular, commodities such as copper – a critical component within green energy technologies – are…
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