Market

OVERVIEW

Artificial Intelligence, Data Centers, and Copper

Copper is in nearly all electrical infrastructure, and data centers require enormous quantities.

The AI Revolution has led to a boom in Data Center construction – copper is a key building block of this infrastructure.

Demand, measured by power consumption to reflect the number of servers a data center can house, is expected to increase by as much as 165% by 2030¹

1 megawatt of data center power requires 27 tonnes of copper. ²
Large data centers can consume 100 megawatts. That’s 2,700 tonnes of copper. The equivalent of more than 400,000 electric vehicles. ³
Currently America’s largest Data Center in Reno Nevada has a 650-megawatt power capacity ⁴. That’s 17,550 tonnes of copper. ⁵
In the first half of 2024, 3,871 megawatts of data center space was under construction in North America alone. That will require over 100,000 tonnes of copper. ⁶

1. Goldman Sachs 2. Statista. 3. Statista. 4. Switch 5. Copper.org. 6. CBRE.com – Click on links to read articles

COPPER MARKET

Copper’s Role in Infrastructure and Construction

Even without factoring in the renewable energy transition, or the data center boom, the world will need to mine at least 115% more copper than has been mined in human history to meet business-as-usual trends to 2050.

Rapid growth in developing countries is increasing the demand for copper in building construction, electrical wiring, plumbing and industry. ¹

1. IEF.org– Click on link to read article

COPPER MARKET

Copper Supply versus Demand

Copper supply is failing to match up to demand projections and requires substantial investment in new mining projects and infrastructure. ¹ Demand for copper could nearly double by 2035, mining companies are having a hard time keeping up. ² Adding conventional, non-energy transition demand, U.S. copper consumption will reach 3.5 million metric tons by 2035, an increase of 112 percent (6.5% CAGR).³

1. IEF.org 2. CNBC. 3. Recycling Today – Click on links to read articles

Image: Example of Bornite, also known as “peacock ore.”

A Critical Metals Opportunity

Copper is a designated critical metal in the U.S.
The U.S. government is supporting the development of critical metal projects.
Potential exists for fast-track permitting.
Potential exists for funding from the U.S. government.

RARE EARTHS ARE CRITICAL TO...

Defense Technology

Used for energy efficient lamps, display screens and avionics, ceramics for jet engine coatings.

Magnets and Motors

Used to produce high-strength permanent magnets, now ubiquitous in mobile phones and laptops as well as energy-efficient electric motors and generators in EVs, wind turbines, appliances and hundreds of other applications.

Industry, Metallurgy and Alloys

Used in some types of steel and ductile iron making as well as in a variety of different alloys. Used in catalytic converters in gasoline and diesel-powered vehicles, fuel cracking and other oil refinery processes and in the aerospace, agriculture, high-tech and chemical industries.

Battery Alloys

Rare earth elements are used to produce anode materials for nickel-metal hydride batteries used in hybrid electric vehicles and consumer electronics like cordless power tools and shavers.

Glass Polishing Phosphors

Used to polish optical glass, hard disk drives, LCD display screens and gemstones. Also used for UV-filtering glass coatings and high-quality optical glass for camera lenses, microscopes and telescopes and for phosphors in display screens and avionics.