Originally posted on Elements.visualcapitalist.com
Why Copper is a Critical Mineral
Copper is critical for everything from the electrical grid to electric vehicles and renewable energy technologies.
But despite copper’s indispensable role in the modern economy, it is not on the U.S. Critical Minerals list.
This infographic from the Copper Development Association shows what makes copper critical, and why it should be an officially designated Critical Mineral.
Copper’s Role in the Economy
Besides clean energy technologies, several industries including construction, infrastructure, and defense use copper for its unique properties.
For example, copper is used in pipes and water service lines due to its resistance to corrosion and durable nature. As the Biden Administration plans to replace all of America’s lead water pipes, copper pipes are the best long-term solution.
Copper’s high electrical conductivity makes it the material of choice for electric wires and cables. Therefore, it is an important part of energy technologies like wind farms, solar panels, lithium-ion batteries, and the grid. The demand for copper from these technologies is projected to grow over the next decade:
Furthermore, policies like the Inflation Reduction Act and Bipartisan Infrastructure Law will bolster copper demand through energy and infrastructure investments.
Given its vital role in numerous technologies, why is copper not on the U.S. Critical Minerals list?
Copper and the Critical Minerals List
The USGS defines a Critical Mineral as having three components, and copper meets each one:
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It is essential to economic and national security.
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It plays a key role in energy technology, defense, consumer electronics, and other applications.
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Its supply chain is vulnerable to disruption.
In addition, copper ore grades are falling globally, from an average of 2% in 1900 to 1% in 2000 and a projected 0.5% in 2030, according to BloombergNEF. As grades continue falling, copper mining could become less economical in certain regions, posing a risk to future supply.
The current USGS list of Critical Minerals, which does not include copper, is based on supply risk scores that use data from 2015 to 2018. According to an analysis by the Copper Development Association using the USGS’ methodology, new data shows that copper meets the USGS’ supply risk score cutoff for inclusion on the Critical Minerals list.
Despite not being on the official list, copper is beyond critical. Its inclusion on the official Critical Minerals list will allow for streamlined regulations and faster development of new supply sources.
The Copper Development Association (CDA) brings the value of copper and its alloys to society, to address the challenges of today and tomorrow. Click here to learn more about why copper should be an official critical mineral.
