Specialist Rick Rule explains the global implications of copper supply
Rule says that copper is essential for the future of mankind,specifically for the 2 billion people in the world who are the world’s poorest.
“If you travel and frontier to emerging markets as much as I do, you’ll see that in the last 30 years mercifully, the poorest two billion people in the world have become progressively less poor,” says Rule.
He adds that as more people get to enjoy a higher standard of living, their demand for electricity increase, which means their demand for copper increases.
“So, looking four years out, five years out, six years out, I see life getting better and better and better for most of mankind which means we use more and more and more copper,” he says.
Total copper mine production worldwide
In fact, from 2006 to 2018 copper mine production worldwide steadily increased.
In 2006, there was some 15.1 million metric tons of copper produced in mines all over the world. This figure increased to more than 21 million metric tons in 2018.