Cobalt and Copper, the dynamic duo. AML right on schedule. Rio...

Cobalt and Copper, the dynamic duo.

AML right on schedule.

Rio Tinto copper head sees supplies running short by 2020s

Apr. 11, 2018 12:18 PM ET|By: Carl Surran, SA News Editor
The copper market will slip into a deficit in the 2020s after being in balance for rest of this decade, as technological change drives demand for copper and its byproducts, Rio Tinto’s (RIO +0.8%) copper chief says.
“Tightening supply and solid demand are combining to produce a positive pricing environment," says Arnaud Soirat, Rio's head of copper and diamonds.
Chile, the biggest copper producing country, and the mining industry have a challenge to meet demand, Soirat says, as the world transitions to electric vehicles and a more electrified economy.
LME copper rose 31% in 2017 but has struggled to maintain gains this year, reflecting the realization that increased consumption from new technologies such as electric vehicles is still in the future.