{"id":115576,"date":"2021-03-05T01:04:22","date_gmt":"2021-03-05T01:04:22","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115576"},"modified":"2021-03-05T01:04:22","modified_gmt":"2021-03-05T01:04:22","slug":"rock-and-heavy-metal-winners-emerge-in-energy-transition","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/rock-and-heavy-metal-winners-emerge-in-energy-transition\/","title":{"rendered":"Rock and heavy metal: winners emerge in energy transition"},"content":{"rendered":"

NEW YORK (Reuters) – Investors in metals and mineral extraction are poised to see their fortunes grow as the race to cut carbon emissions requires massive investment in commodities other than oil and gas.<\/p>

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As world economies shift to more electrification and away from fossil fuels to reach net-zero carbon emissions by 2050, expect more copper mining and interest in metals like cobalt and nickel crucial to battery production, CEOs and global politicians said at this week\u2019s all-virtual CERAWeek energy conference.<\/p>\n

The World Bank has estimated that the energy transition will require over 3 billion tons of minerals and metals. Demand for minerals including graphite, lithium and cobalt could increase by nearly 500% by 2050, to meet the growing need to deploy wind, solar and geothermal power as well as energy storage, according to a World Bank Group report last year.<\/p>\n

Metals such as nickel and cobalt are vital in the battery sector, executives said.<\/p>\n

Copper demand will surge from makers of piping and wires for electrification, they said.<\/p>\n

\u201cWe see the use of electric vehicles, wind farms and solar requires up to five times the amount of copper,\u201d Trafigura CEO Jeremy Weir said at the conference Thursday. \u201cYou can\u2019t turn on the switch and produce more copper,\u201d he said.<\/p>\n

He noted that lead times for developing copper mines can be between five and 10 years, putting pressure on available copper supplies. As a result, copper and other metals will see \u201csignificant supply deficits,\u201d he said.<\/p>\n

In February, three-month copper prices on the London Metal Exchange surged to the highest since August 2011.<\/p>\n

The vast quantities of copper needed could also reorder the geopolitical landscape, Goldman Sachs\u2019 global head of commodities research and global investment research Jeff Currie said.<\/p>\n

He said copper-producing heavyweights like Chile could take on a role similar to the one Saudi Arabia plays in the oil industry. Other nations such as Democratic Republic of the Congo could become key suppliers even with unstable, high-risk governments, akin to oil producer Venezuela. [L2N2KZ26E]<\/p>\n

Mining in the United States, one of the world\u2019s largest copper producers, poses its own challenges. Reuters previously reported that the Biden administration plans to allow mines that produce metals for use in electric vehicles to be developed under existing environmental standards, rather than face tighter scrutiny similar to mining for materials such as coal.<\/p>\n

Biden is open to allowing more mines on federal land, the sources said, but won\u2019t give the industry carte blanche to dig everywhere.<\/p>\n

\u201cWe are living in a technology-driven world,\u201d Petrobras CEO Roberto Castello Branco said, speaking at CERAWeek. \u201cIn the past, we looked only to the oil business as competitors. Now, many of them are partners, and other industries are competitors.\u201d<\/p>\n

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NEW YORK (Reuters) – Investors in metals<\/p>\n","protected":false},"author":3,"featured_media":115575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nRock and heavy metal: winners emerge in energy transition - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/rock-and-heavy-metal-winners-emerge-in-energy-transition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rock and heavy metal: winners emerge in energy transition - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"NEW YORK (Reuters) – Investors in metals\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/rock-and-heavy-metal-winners-emerge-in-energy-transition\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-05T01:04:22+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/03\/cnewsfotor94-5.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/rock-and-heavy-metal-winners-emerge-in-energy-transition\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/rock-and-heavy-metal-winners-emerge-in-energy-transition\/\",\"name\":\"Rock and heavy metal: winners emerge in energy transition - 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