Economy · London, UK · United Kingdom · October 20, 2026

BloombergNEF says copper needs $332 billion in new mines to avoid deficit

Reported by 2 outlets · first reported Oct 20, 1:57 AM ET

BloombergNEF said nine of ten key energy transition metals are on track for sufficient supply by 2050, but $332bn of investment in new copper mines is needed to avoid a shortfall. Copper has risen 15.8% in 2026, with investors citing demand from AI, power grids and stockpiling.

Why it matters

A copper shortage could slow electrification and grid expansion worldwide.

Background

Copper is essential for wiring, electric vehicles and data centers. New mines often take many years to develop.

Sources

• OilPrice ↗Oct 20, 7:30 AM ET
• CNBC ↗Oct 20, 1:57 AM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

See it on the globe →All of Oct 20's stories