Veteran Investor Warns: Unavoidable Copper Shortage In 5 Years

A stark warning from a veteran natural resource investor. The world is heading for an unavoidable copper shortage within five years, driven by the insatiable energy demands of artificial intelligence. Rick Rule tells Epic TV that the AI boom is pushing copper consumption to staggering levels, and there's nothing we can do now to prevent a supply deficit. Global refined copper use rose to 28.2 million metric tons in 2023, with production barely keeping pace. By 2040, demand could hit 42 million tons, leaving a shortfall of 10 million tons unless major new mines come online. Prices have already reacted, nearly doubling from their post-pandemic low to over $6 a pound. The United States is particularly vulnerable, producing less than half the copper it consumes. The country faces a deficit of more than 1 million metric tons and is expected to import about 70% of its needs through 2040. Copper was recently added to the US critical minerals list, underscoring its importance for national security. Rule points to decades of under investment in exploration and development. Building a new mine takes nearly 18 years, and few projects are construction ready. The Resolution Copper project in Arizona has waited more than ...