IEA says critical mineral investment needs top USD 750 billion by 2040 as copper and lithium gaps persist
AI Market Summary
The IEA projects strong critical-mineral demand growth through 2040, requiring over $750B in mining and refining investment, with copper the largest need. Persistent copper and lithium supply gaps through 2035 and high refining concentration (notably in China) increase supply-chain vulnerability and bottleneck risk. This reinforces a structurally supportive backdrop for industrial metals, particularly copper, in the near-to-medium term.
Impact level
● Medium
Affected assets
NCCO724COPPER2USD/USDT+0.26%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
▲ Bullish
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The International Energy Agency said the clean-energy transition will require more than USD 750 billion of investment in mining and refining through 2040. Copper accounts for the largest share at about USD 310 billion, followed by nickel at USD 280 billion. The IEA projects lithium demand to more than triple by 2040 and copper demand to rise by more than 25 per cent, adding around 7 million tonnes, while supply gaps for copper and lithium could persist through 2035. These dynamics underpin medium- to long-term price support for base industrial metals such as copper and nickel.
