Home » Market News » DirectorsTalk Highlights » Car industry copper demand to surge 250% due to EVs
Georgian Mining Corp

Car industry copper demand to surge 250% due to EVs

Global electric vehicle (EV) deployment hinges on the availability and price of lithium and cobalt, right? Think again. A report from analysts at Wood Mackenzie has stated copper will also be a critical factor.

By 2030, electromobility-driven copper demand will surge 250% from its current level, according to the study.

And annual demand will amount to 3.7 million tons a decade later, compared to the 1 million tons used annually in all car production at present, predicted the analysts. Electrical wiring and copper battery content explain the rise, only in part.

Georgian Mining Corp (LON:GEO) is an AIM listed copper & gold development and exploration company that operates mainly in Georgia on the prolific Tethyan Belt.

To read the full news article please click here

Receive our exclusive interviews – Enter your email to stay up to date.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.