Are there any forecast for copper production out there? Will our future be constrained by this vital material?$this->bbcode_second_pass_quote('', '
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I think so. The prices of copper are already exploding
copper 5 year price chartWorldwide stocks are at all time lows.
LME stocksI doubt that we have enough copper to switch to an electricity/hydrogen based economy. If you are interested in the copper situation I think "the coming copper crunch" from Doug Casey is requiered reading material
The coming copper crunch$this->bbcode_second_pass_quote('', ' ')What about new mine supply?
The big issue with supply is that the majority of the world's copper deposits have already been discovered, mostly in the 1960s. They've been found because copper is usually located in near-surface porphyry deposits - structures with a large geological "footprint" that make them relatively easy to find and, once found, easy to understand and to exploit.
As a result, new discoveries are hard to come by and tend to be deeper and harder to mine. Recent examples are Ivanhoe's Turquoise Hill in Mongolia, a buried porphyry, and Rio Tinto's recent find in Arizona, a resource located at a depth of 2,000 meters. To state the obvious, the deeper the mine the more time and the more money is required to put the mine into production.
For example, Turquoise Hill - a large resource estimated at 19 million tons - won't be put into production until 2007 at the earliest, and, depending on the size and production plan, only after an expense of up to $2 billion.
Cutting to the chase, in order for the copper industry to off-set the fast approaching supply/demand shortfall, it will have to do much, much better - in fact, it will require a new mega-mine on the order of Turquoise Hill to come on line each and every year for the foreseeable future.