Recently, the international mining giant Glencore Group CEO Ivan Glasenberg (Glasenberg) in the company’s half-year performance report said that with the global shift to the green economy, as well as the growth of demand for electric vehicles, the future will add copper Demand of 2 million tons / year.
Glasenberg predicted that by 2030, electric car sales will account for 30% of the total annual car sales, the amount of ownership from the current 2 million to 26 million.
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Even as a 20% conservative estimate of car production in the future, electric car growth will also lead to increased consumption of copper, nickel and cobalt and prices.
In addition to copper, electric vehicle growth will bring 1.2 million tons of nickel, 260,000 tons of cobalt additional demand.
According to the results can be measured, an electric vehicle batteries need an average of 40-50 kg of nickel, 50-75 kg of copper and 5-15 kg of cobalt. And Glencore is the manufacturer of these metals.
This has not yet calculated the additional needs of the charging station for the metal.
According to the US Geological Survey estimates, 2016 global copper production of 19.4 million tons, 12.3 million tons of cobalt, nickel 225 million tons.
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