BHP Billiton CEO Mike Henry emphasized in an interview that copper is an “essential” metal that not only supports the daily operation of the economy, but is also a key component of decarbonization and digitization technology. Henry said, “The annual market size of copper is between 300 billion and 400 billion US dollars; the rare earth that people often hear about is only about 20 billion US dollars. So it's a huge market.” Like rare earth minerals, copper is facing pressure from surging demand and supply is unable to keep up. Henry pointed out that in the context of “strong demand growth,” the copper bull market is likely to continue for the next few years. “We expect demand for copper to grow 70% between now and 2050, but supply is becoming more difficult to release. There are fewer and fewer new mines, and the mines discovered are often smaller, lower grade, and located in harsher regions, making it difficult to develop these mines quickly.”

BHP Billiton CEO Mike Henry emphasized in an interview that copper is an “essential” metal that not only supports the daily operation of the economy, but is also a key component of decarbonization and digitization technology. Henry said, “The annual market size of copper is between 300 billion and 400 billion US dollars; the rare earth that people often hear about is only about 20 billion US dollars. So it's a huge market.” Like rare earth minerals, copper is facing pressure from surging demand and supply is unable to keep up. Henry pointed out that in the context of “strong demand growth,” the copper bull market is likely to continue for the next few years. “We expect demand for copper to grow 70% between now and 2050, but supply is becoming more difficult to release. There are fewer and fewer new mines, and the mines discovered are often smaller, lower grade, and located in harsher regions, making it difficult to develop these mines quickly.”