The copper industry is at a turning point. With the depletion of easily accessible copper oxide deposits, the challenge of extracting copper from lower-grade sulfide ores is becoming increasingly critical. Traditional methods for copper extraction are proving insufficient, especially when it comes to leaching primary sulfide ores, which are difficult to process due to the formation of a chemical passivation layer that slows extraction rates. This inefficiency, combined with the lack of a universal solution that works across all mining sites, underscores the need for new technological approaches.
Copper is a cornerstone of the clean energy transition, crucial for everything from electric vehicle motors to wind turbines. However, the demand for copper is outpacing supply, and the situation is expected to worsen as high-grade deposits become increasingly rare. It is projected that the world will face a copper supply shortfall of millions of tonnes by 2030, putting the energy transition at risk.
Emerging technologies offer some hope in tackling this challenge. New leaching methods, using different chemical agents like chlorides, nitrates, and catalysts, are being explored to increase extraction efficiency. These methods have the potential to boost copper production significantly, but even with these advances, the projected shortfall will not be fully addressed.
To close the gap, the industry must embrace novel technologies that can transform how copper is extracted, making the process viable for low-grade deposits that are currently uneconomical to mine. These technologies could unlock the potential of resources previously left untapped, providing a critical boost to the copper supply needed for a renewable energy future. The time to innovate is now—without embracing new technologies, the industry will struggle to meet future copper demands, risking the success of the global energy transition.
For more details, refer to the Goldman Sachs report on Copper Leaching Breakthrough Technologies.The depletion of copper oxide deposits and challenges in leaching low-grade sulfide ores make novel technologies essential to meet future copper demands.
