Copper Demand Is Forecast to Rise 50% by 2040. Mined Supply Is Expected to Peak Around 2030
Key Highlights
- ➤Copper demand projected to rise 50%, reaching 42 million metric tons by 2040
- ➤Copper shortfall could reach 10 million metric tons by 2040 without investment
- ➤Mined copper supply expected to peak around 2030 before declining
- ➤Freeport-McMoRan (FCX) produced approximately 830 million pounds in Q3 2026
- ➤Ivanhoe Electric's Santa Cruz study shows $1.5 billion after-tax NPV
Expert Statements
Jim Coates, CEO of Yukon Metals
“Viper has developed into a strong copper-gold-molybdenum porphyry target at our flagship AZ property”
Jim Coates, CEO of Yukon Metals
“All three holes drilled this year encountered hundreds of metres of porphyry-style alteration with locally developed copper-gold-molybdenum mineralization.”
WHITEHORSE, Yukon, Oct. 14, 2026 (GLOBE NEWSWIRE) -- U.S. Metal News News Commentary - Global copper demand is projected to rise about 50%, from roughly 28 million metric tons in 2025 to 42 million metric tons by 2040, according to S&P Global’s January 2026 outlook, which warns that the market could face a shortfall of up to 10 million metric tons by 2040 without major new mining and processing investment. The Business Research Company puts the value of the global copper market at about $124.1 billion in 2026, rising to approximately $184.6 billion by 2030, a compound annual growth rate of roughly 10.4%. Active Companies from around the markets with current developments this week include: Yukon Metals Corp. (CSE: YMC) (FSE: E770) (OTCQB: YMMCF), Freeport-McMoRan Inc. (NYSE: FCX), Ivanhoe Electric Inc. (NYSE American: IE), GoldMining Inc. (NYSE American: GLDG), Seabridge Gold Inc. (NYSE: SA).
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