News in numbers Electrification and the mining industry


The International Energy Agency (IEA) estimates that the annual demand for critical minerals from clean energy technologies will surpass $400bn by 2050.


COPPER: 124%


LITHIUM: The increase in global copper


production of the past 30 years. Source: Forbes


9.9 million tonnes


energy transition markets. Source: S&P Global


9.7 million tonnes


warming below 1.5°C. Source: Wood Mackenzie


$23bn


Investment required per year for the next 30 years to deliver new copper projects to reach


zero-carbon targets. Source: Wood Mackenzie


17 million tonnes


limit warming to 1.5°C. Source: Wood Mackenzie


55% 6 6.7 million tonnes


lithium demand in 2022. Source: Wood Mackenzie


The predicted global annual demand for copper by 2035, double that of 2021 levels, due to an anticipated trebling of usage in


100,000 tonnes


annual total to be recorded. Source: US Geological Survey


The amount of copper required over the next decade to keep global


22 million tonnes


Current worldwide reserves of lithium.


Source: US Geological Survey 50


Amount of annual copper production currently in the project pipeline – nearly double the volume required to


New lithium mines required by 2030 to meet global net carbon


emissions goals. Source: IEA


16.5 years


The required amount of lithium by 2050 to meet demand for the 1.5°C scenario. This represents a market nine times larger than the total


COBALT: 170,000 tonnes


volume of cobalt in 2021. Source: Statista


120,000 tonnes


Amount of lithium produced across the world in 2021, the highest


of Congo. Source: Statista


17


New cobalt mines required by 2030 to meet global net carbon


emissions goals. Source: IEA


The total worldwide mine production


Of 2021’s cobalt production volume came from the Democratic Republic


The average length of time taken to develop lithium mines that started


operations between 2010–19. Source: IEA


Of low-carbon copper demand over the next 20 years is due to the


uptake of electric vehicles (EVs). Source: Wood Mackenzie


World Mining Frontiers / www.nsenergybusiness.com


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