Vale Investor Conference Presentation Deck
2022 BofA Securities Global Metals, Mining & Steel Conference
Metals intensity should increase in an energy-transition world
Energy transition requires a high-intensive metals
consumption...
Power generation - Material intensity
ton of Cu eq.¹ per terawatt-hour
Other
Cadmium, gallium, telurium
Rare-earth elements
Aluminium
Copper, nickel and zinc
Steel
Coal fired
Gas fired
Wind²
Solar
photovoltaic
...while other drivers are also working to shift
demand to new levels
4:
Population and income growth will still
be major drivers for commodities demand
EV has 6x the mineral requirements vs.
an ICE car
Industrial reshoring/onshoring leading to
new investments
Source: World Steel Association, IEA, BofA and McKinsey & Company.
1 Copper equivalent. Cu eq, conversion used 2015-21 average prices for each metal. 2 Estimated average across different technologies, for onshore and offshore.
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