BHP Billiton, the world’s largest miner, believes copper, not lithium or cobalt, is the best way to benefit from increased electric vehicle adoption rates - Glencore, Rio Tinto & Ivanhoe Mines are also bullish on copper. Research suggests that copper from EV’s could rise nine times in the next decade.
Global consumption of refined copper will show steady increase over the next few years, driven by the demand of the power industry, a continued electric vehicle (EV) production and adoption rates as well as a positive global economic outlook for growth. Copper supply and demand outlook by Fitch Solutions shows.
Based on Fitch’s data, global demand for refined copper will outpace production and the market will be in deficit over the next few years. Fitch specifically forecasts the global refined copper balance to indicate a deficit of 247kt in 2018, and to remain under-supplied through to 2021.
The 100% owned Gachala Property project is Universal Copper's current focus and covers 13,280 hectares and 48-line kms of the 250km by 120km belt of Devonian Cretaceous rocks in geological setting conductive to sedimentary deposits, believed to be analogous to the Zambia Copper Belt of Africa.