As Electric Vehicles Fuel A Rise In Copper Demand, Junior Mining Companies Like This Could Help Ease The Situation – Benzinga

Accelerating the reduction of carbon emissions to stem climate change is now high on the agenda of countries around the world.

According to a new World Bank report, Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition, exploration for renewable materials is at an all-time high.

The report estimates that the production of minerals such as graphite, lithium and cobalt could increase by almost 500% by 2050 to meet growing demand for clean energy technologies.

There could also be a huge increase in demand for several key minerals and metals, including copper, to make cleaner energy technologies. The World Bank estimates that more than 3 billion tons of minerals and metals will be needed for renewable energy sources such as wind, solar and geothermal energy.

Of all the sectors expected to latch onto the renewable energy buzz, the transportation sector – including electric vehicle (EV) production – is expected to have the biggest impact.

The sector will need more critical metals like copper as more electric vehicles continue to roll off the assembly lines from manufacturers like Tesla Inc. TSLA, Lucid Group Inc. LCID and Nio Inc.—ADR NIO.

The global market for electric cars is growing exponentially. Global sales will reach 6.6 million in 2021, almost double the previous year. By 2027, an estimated 27 million electric vehicles will be on the road.

The numbers are set to rise further, particularly in the United States, following the Biden administration’s green infrastructure and clean energy plan, initially estimated at $3 trillion.

Electric vehicles and copper

As one of the oldest metals known to mankind, copper has made valuable contributions to various industries including electronics, construction, machinery, transportation, and consumer products.

Its value is once again highlighted as the world moves towards a clean energy future. Electric vehicles use more than twice as much copper as an internal combustion engine automobile.

Electric vehicle copper batteries, windings and rotors used in electric motors, wiring and charging infrastructure all contain copper in their composition. Below is the amount of copper by vehicle type:

  • Internal combustion engine: 23 kilograms (kg) of copper
  • Hybrid electric vehicle (HEV): 40 kg of copper
  • Plug-in hybrid electric vehicle (PHEV): 60 kg of copper
  • Battery electric vehicle (BEV): 83 kg of copper
  • Hybrid electric bus (Ebus HEV): 89 kg of copper
  • Battery electric bus (Ebus BEV): 224 to 369 kg of copper (depending on battery size)

A Junior Enterprise to strengthen the offer to meet demand?

Of all the projections, including the increase in copper for electric vehicles from 185,000 tonnes in 2017 to 1.74 million tonnes in 2027, the metal will be central to the evolution of electric vehicles.

Junior exploration companies like Max Resource Corp. MAX MXROFmight be able to earn big and be more than ready to find the copper to meet the demand.

Actively engaged in the acquisition and exploration of mineral properties in Colombia and Peru, the company reports that its recently discovered CESAR copper-silver property has real potential to become one of the largest copper-silver systems ever. discovered.

The previously overlooked project sits along the Colombian portion of the world’s largest copper-producing belt (Andean Belt), with world-class mining infrastructure and the presence of global majors. Glencore Glencore plc GLEN and Chevron Corp. CLC nearby.

The CESAR project is based on a massive sedimentary system covering a significant part of the Cesar basin, which is 200 kilometers long.

Learn more about Max Resources’ CESAR Copper Silver and RT Gold projects at maxresource.com/?cesar and maxresource.com/?rt.

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