Big Take4 Nov 2022

The Copper You Need Is Stuck In A 30-Mile Traffic Jam

Here’s a random yet important fact: Copper is one of the very best conductors of electricity of all metals. And that matters, because as we move toward a world in which more and more things in our lives plug in or charge up–not just your phone, but electric vehicles, solar panels and wind turbines that will power the future–copper is in increasingly high demand. Worldwide, about 21 million metric tons of it are hauled up from the ground each year. And demand will soon double.

Some of the richest reserves of copper are found in Southern Africa. But getting it from deep underground and trucking it thousands of miles to buyers can be a harrowing journey.

Without more production or new mines, the world could be looking at shortages, and soaring prices for copper and the products that use it. Joining this episode are Santiago-based commodities reporter James Attwood, and Yvonne Yue Li, a metals and mining reporter in New York. They’ll explain what a coming copper shortage could mean for us all.

Reporter Matthew Hill also stops by to describe his visit to a huge mine in Zambia, where he descended thousands of feet underground to see copper being blasted from the rock–and talked to the truckers who risk their safety bringing it to port.

Learn more about this story here: https://bloom.bg/3fxYXrQ

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Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.

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