{"id":27209,"date":"2022-08-10T16:06:52","date_gmt":"2022-08-10T16:06:52","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply"},"modified":"2022-08-10T16:12:36","modified_gmt":"2022-08-10T16:12:36","slug":"warning-bells-sound-for-future-copper-supply","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply","title":{"rendered":"Warning bells sound for future copper supply"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>FEARS that the world will face a severe shortage of copper, which is crucial to the green energy transition, have emerged, says new Anglo American chief executive officer (CEO) Duncan Wanblad.<\/b><\/p>\n

He says: \u201cI genuinely don’t see where all of this copper is going to come from at this point in time.\u201d<\/p>\n

Namibia is one of the copper-producing and exporting countries, and yearly ships out billions of Namibia dollars worth of copper.<\/p>\n

Last year alone, exports were at N$5,6 billion, and made up 8,9% of what the country exported.<\/p>\n

According to a Bloomberg report, Wanblad said this expected shortage of copper would be worse as new mines become increasingly difficult to build.<\/p>\n

The copper price has slumped in recent months as inflationary fears hit Western markets, and China’s demand was curbed by sweeping Covid-19 controls, but many investors remain bullish on the longer-term picture.<\/p>\n

The metal, which hit a record above US$10 000 a tonne earlier this year, is an essential part of the world’s efforts to decarbonise, and new supply is constrained globally.<\/p>\n

Bloomberg reported that nearly all the biggest miners are looking to expand their copper production: Rio Tinto Group is trying to buy out Turquoise Hill Resources to increase its exposure to a giant mine in Mongolia, and is also seeking to develop a huge copper mine in the United States.<\/p>\n

Top miner BHP Group has evaluated some of its biggest rivals, as well as looked at new projects in the Democratic Republic of Congo.<\/p>\n

\u201cThere are lots of copper resources in the world, and I think those resources could be brought to book, but the length of time it takes is completely underappreciated by the market,\u201d said Wanblad.<\/p>\n

He said he is not certain when the world is going to wake up to it, \u201cbut I suspect it will be sooner rather than later\u201d.<\/p>\n

Wanblad took over as Anglo American CEO earlier this year, replacing Mark Cutifani.<\/p>\n

Namibia’s mining inventory shows 15 exclusive prospective licences have been issued to several copper explorers, including Trans-Kalahari Copper Namibia, which holds many of them.<\/p>\n

Recently, the Mining Review reported that Sandfire Resources is to purchase 100% of the issued capital in Trans-Kalahari Copper Namibia (TKC), the wholly owned subsidiary of Kopore Metals which holds Namibian exploration properties.<\/p>\n

Sandfire will pay an upfront consideration of US$1 million in cash and US$1 million in Sandfire shares, calculated on Sandfire’s five-day VWAP at closing.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. FEARS that the world will face a severe shortage of copper, which is crucial to the green energy transition, have emerged, says new Anglo American chief executive officer (CEO) Duncan Wanblad. He says: \u201cI genuinely don’t see where all of this copper is going to come from at this point in time.\u201d […]<\/p>\n","protected":false},"author":84,"featured_media":27208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-27209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nWarning bells sound for future copper supply - Namibia<\/title>\n<meta name=\"description\" content=\"FEARS that the world will face a severe shortage of copper, which is crucial to the green energy transition, have eme ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Warning bells sound for future copper supply\" \/>\n<meta property=\"og:description\" content=\"FEARS that the world will face a severe shortage of copper, which is crucial to the green energy transition, have eme ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-10T16:06:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-10T16:12:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/08\/postQueueImg_3-62f3d8e2a06a4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Warning bells sound for future copper supply\",\"datePublished\":\"2022-08-10T16:06:52+00:00\",\"dateModified\":\"2022-08-10T16:12:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply\"},\"wordCount\":422,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/08\/postQueueImg_3-62f3d8e2a06a4.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/warning-bells-sound-for-future-copper-supply\",\"name\":\"Warning bells sound for future copper supply - 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