{"id":8325,"date":"2024-09-09T17:00:43","date_gmt":"2024-09-09T17:00:43","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=8325"},"modified":"2024-10-21T17:17:55","modified_gmt":"2024-10-21T17:17:55","slug":"all-of-the-above-strategy-crucial-to-meet-u-s-copper-demand-report","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2024\/09\/09\/all-of-the-above-strategy-crucial-to-meet-u-s-copper-demand-report\/","title":{"rendered":"\u2018All-of-the-above\u2019 strategy crucial to meet U.S. copper demand: report"},"content":{"rendered":"\n

The Copper Development Association<\/a> has released a new report, \u201cCopper in the US: Opportunities and Challenges\u201d, that explores opportunities the United States has in sourcing copper, along with the need or a strategy to keep it front and center.<\/p>\n\n\n\n

The report was commissioned by the Copper Development Association (CDA) and conducted by S&P Global Market Intelligence. The study found that without increased domestic production, the U.S. will be 60% reliant on foreign imports of refined copper by the year 2035.<\/p>\n\n\n\n

\u201cAs global demand for copper\u2014the \u2018metal of electrification\u2019 \u2013 continues to rise, the U.S. must confront long development times for domestic mines, the need for expanded refining and recycling efforts, and its reliance on imports,\u201d the groups said. <\/p>\n\n\n

\"\"<\/p>\n\n\n

President and CEO Adam Estelle added that, with approximately 275 million metric tons of copper reserves and resources in U.S. soil, America is well positioned to be self-reliant in meeting copper demand for generations to come.<\/p>\n\n\n\n

\u201cHowever, we must be strategic to ensure our copper endowment can be accessed and supplemented. This requires an all-of-the-above approach that combines increased domestic mining and refining, increased recycling, and continued trade with reliable partners.\u201d<\/p>\n\n\n\n

Key findings from the report:<\/p>\n\n\n\n

    \n
  1. Abundant reserves and resources<\/strong>: The U.S. holds over 275 million metric tons of copper reserves and resources, enough to meet the nation\u2019s projected demand for the foreseeable future; however, new U.S. mining projects currently average 29 years to begin production.<\/li>\n\n\n\n
  2. Trade<\/strong>: Currently, imports account for 44% of U.S. refined copper demand. This reliance on imports is against a background of a substantial copper endowment. Development of these resources would reduce the reliance on imports.<\/li>\n\n\n\n
  3. Recycling potential<\/strong>: With copper being fully recyclable, over 2\/3 of copper ever mined is still in active use today, and over 32% of the U.S. copper supply comes from recycled sources. While there are significant opportunities to increase U.S. recycling rates, copper products are durable and often last decades, limiting the amount of copper available for recycling today. As such, increased recycling on its own will not be sufficient.<\/li>\n\n\n\n
  4. Strategic trade partnerships<\/strong>: Nearly all U.S. refined copper imports come from four countries with Free Trade Agreements: Chile, Canada, Peru, and Mexico. These partnerships are crucial, but these countries\u2019 production is forecast to increase only 6% by 2035. In addition, nearly all seabound imports of copper come through the troubled Panama Canal bottleneck.<\/li>\n<\/ol>\n\n\n\n

    CDA said it and its members are committed to bringing the value of copper to society responsibly and sustainably. The association now calls on policymakers to give copper credit by designating it as a critical mineral on the USGS list.<\/p>\n\n\n\n

    This designation would attract significant investment in production, refining, and recycling, and help streamline the permitting process, empowering the U.S. to access its abundant copper endowment. <\/p>\n\n\n\n

    \u201cIt\u2019s time to invest in a stronger, more resilient U.S. copper supply chain,\u201d said Estelle. \u201cAn all-of-government approach, which includes adding copper to the USGS Critical Minerals list, is required to address the opportunities ahead and to secure the metal of electrification for our nation\u2019s future.\u201d<\/p>\n\n\n\n

    \u201cCopper in the US: Opportunities and Challenges\u201d is available here<\/a>.<\/p>\n\n\n\n

    Source: copper.org<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    The Copper Development Association has released a new report, \u201cCopper in the US: Opportunities and Challenges\u201d, that explores opportunities the United States has in sourcing copper, along with the need or a strategy to keep it front and center. The report was commissioned by the Copper Development Association (CDA) and conducted by S&P Global Market Intelligence. The study found that…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[495,12],"tags":[3234,3235,3236],"coauthors":[1644],"class_list":["post-8325","post","type-post","status-publish","format-standard","hentry","category-latest-news","category-the-headlines","tag-copper-development-association","tag-copper-reserves","tag-copper-supply-chain"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/8325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/comments?post=8325"}],"version-history":[{"count":1,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/8325\/revisions"}],"predecessor-version":[{"id":8328,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/8325\/revisions\/8328"}],"wp:attachment":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/media?parent=8325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/categories?post=8325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/tags?post=8325"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=8325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}