Experts Warn of Copper Shortage Amidst Global Shift to Green Energy
As the world accelerates towards green energy solutions, experts are raising concerns about an impending copper shortage that could threaten efforts to provide clean and affordable energy. Swiss bank UBS forecasts a supply deficit of over 200,000 tons by 2025, while the International Energy Forum emphasizes the urgent need for over a billion tons of new copper mining capacity annually through 2050. Recent declines in copper prices may be temporary, as surging demand from renewable energy projects and electric vehicles could quickly turn today's surplus into a deficit. With copper mines taking years to reach production, swift action is needed to secure future supplies.
Achieving net-zero emissions by 2050 will require unprecedented investment, estimated at $78 trillion, according to Wood Mackenzie. At the same time, the United Nations highlights the potential for minerals like copper to foster shared prosperity as the world navigates this monumental energy transition.
Usha Resources Ltd., a North American mineral acquisition and exploration company, has initiated a new survey at its Southern Arm property in Quebec. The survey, conducted by Val d'Or-based Geophysique TMC, will identify prime areas for drilling copper and other valuable metals. The company aims to fully acquire the Southern Arm property within two years.
The survey is focusing on the Hollywood trend, an area showing signs of metal deposits. Results from the survey will guide Usha's upcoming drilling program, which is scheduled for the winter of 2024-2025. CEO Deepak Varshney expressed enthusiasm for the fieldwork, emphasizing the significance of using local expertise to refine drilling targets. Usha also continues to evaluate additional opportunities to acquire copper or gold pr
