Major miners like Glencore Plc & BHP group are refocusing on deal-making. As fresh reserves become more expensive and difficult to develop in order to expand
Come 2026 & 2027 you’re beginning to get into shortfall territory in the market because miners are reluctant to committed to big greenfield projects beyond what’s going on right now
The best illustration is Chile. As a result of declining ore quality and water constraints offsetting fresh supply entering the market, the nation’s output has plateaued.
Given how much of the metal is required in everything from EV’s to wind turbines. Supply challenges in the country with the largest copper deposits are significant for the global energy shift.