Summary
Copper is a metal with unique properties that make it indispensable in many areas of modern human activity. Its excellent thermal and electrical conductivity is helpful in electrical engineering (production of cables, heating systems, ventilation equipment, etc.). In addition, in electronics (printed circuit boards of computers, telephones, and parts of other devices), the scope of copper application is also enormous (Durkin, 2021). Notably, approximately one-third of the copper consumed in world production is recycled (Binns, 2017). This metal can be smelted again from scrap, from production waste, and from alloys that it contains. Copper raw materials can be used directly or subjected to high-tech processing to pure copper without losing any of its physical or chemical properties. Thus, the acceptance of copper scrap from individuals, organizations, and firms is in demand (Nguyen et al., 2021). These characteristics make it a promising resource today and in the nearest future, especially considering the nation’s carbon emissions goals.
It is crucial to understand the geographical distribution of copper mining to identify the important players in the industry. The largest reserves of this metal are in Chile – about 190 million tons (Ciacci et al., 2020). Over the past 30 years, the extraction of copper ore and the use of refined copper around the world has increased dramatically. This is associated with a wave of technological discoveries and increased demand for this metal, primarily in countries such as China, Brazil, and India – they entered the world market (Schipper et al., 2018). The largest refined (recycled) copper suppliers are China, the European Union, Chile, Russia, Japan, and the USA (Ciacci et al., 2020). The demand for iron, aluminum, lithium, and nickel also increased (Nguyen et al., 2021; PolyMet Mining, 2019). The increase in demand for these metals is directly determined not only the increase in ore production but also the demand for scrap metal, while the price of scrap acceptance is relatively high.
As was mentioned above, due to sustainability goals and an urge to switch to new technologies, and infrastructure, copper will play an essential role in shaping the world economy. Experts predict an increase in demand for copper in the near future by 2.1% per year, primarily in such industries as the production of electric vehicles, electricity from renewable sources, and infrastructure development in developing countries (Deetman et al., 2018; Ciacci et al., 2020). The following fields are already the key to the world’s transition to a more copper-intensive economy.
- Electrical industry. Copper is the best conductor of electricity among base metals. It serves as a standard against which other conductors are compared. In this regard, copper has been used in the production of power cables and electrical wiring of residential and commercial buildings (Deetman et al., 2018). Metal is an important component of energy-efficient generators, motors, transformers, and renewable energy systems.
- Electronic industry and communications. Copper plays a key role in global information and communication technologies. The metal and its alloys are used to manufacture communication systems, mobile phones, and personal computers. Semiconductor manufacturers have launched revolutionary copper chips that enable microprocessors to run faster while consuming less power.
- Building. Copper is widely used to manufacture sanitary systems, faucets, valves, and fittings. Unlike plastic, copper pipes do not burn, melt, or emit toxic substances in case of fire. They help protect plumbing systems from potentially pathogenic bacteria such as Legionella.
- Industrial machines and equipment. Due to their durability, processability, and machining precision, copper alloys are ideal for hydraulic transmissions, bearings, and turbine blades (Deetman et al., 2018). The corrosion resistance of copper alloys makes them indispensable for use in the marine environment (ships, oil platforms, offshore power plants, etc.).
- Consumer goods. Since the dawn of civilization, copper has been used to mint coins. Currently, many countries are replacing small paper money with copper coins, which have a lifespan of up to 50 years. The one-cent and five-cent coins contain 2.5% and 75% copper in the US, respectively (AngloAmerican, 2019). The same goes for European Union coins; computers, electrical goods, kitchenware, locks, and keys are just some of the widely used benefits of copper.
- Transport. All major modes of transport depend on copper. Cars and trucks use motors, wiring, brake systems, and transmissions that contain copper. A typical internal combustion engine currently includes 22.5 kg of copper, while expensive cars have 1,500 copper wires 1.6 km long (Nguyen et al., 2021). Electric vehicles contain, on average, four times more copper than conventional cars. Copper is also being used in a new generation of aircraft and trains. New high-speed trains use 2 to 4 tons of copper, compared to 1-2 tons in traditional electric locomotives.
However, there are also a number of limitations that copper mining possesses. One of the problems is related to the relative depletion of deposits with high-quality copper ores and the complication of mining conditions. The exploration process requires significant and long-term investments at the initial stage of resource assessment and is associated with high risks of loss. Existing and developing deposits, mines, mines, and quarries face a range of challenges, ranging from the depletion of quality ore and the need to mine at ever-greater depths (Reporter, 2019). Among the problems that arise during the extraction and supply of this metal to the world market, the following can be noted:
- Decreased ore quality and metal content in a number of mining regions, primarily in the USA and Chile;
- Funding issues: Extended periods of economic and price volatility have a significant impact on the cost of capital;
- Water supply is a key issue in dry regions;
- Exacerbation of environmental problems since coal is the main raw material for the generation of energy used in copper mining;
- The rise of resource nationalism;
- Skilled labor shortage.
Nevertheless, it is worth noting that copper possesses a considerable benefit that can help bypass these supply disruption factors. Copper is one of the few raw materials that can be reused without performance loss. While all this provides a gradual transition to a more sustainable economy, the life cycle of copper still cannot be entirely closed for two reasons. Firstly, demand will grow due to population growth, innovation, and economic development (Reporter, 2019). Secondly, in most cases, its life cycle is very long; copper can be used in devices and structures for decades (PolyMet Mining, 2019). Therefore, meeting future demand for metals will still require a combination of primary raw materials from mines and recycled materials from copper scrap.
Overall, due to the development of a low-carbon economy, the demand for copper in the coming years will only grow and exceed the supply. Thus, this metal will become the “new oil” or even “new gold” worldwide. However, key stakeholders such as policymakers, scrap collectors, copper producers, and processors need to focus even more on ensuring that the copper produced today can be quickly and more efficiently recycled and reused tomorrow.
References
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