Investor Presentaiton
COPPER MARKET
III
SOUTH32
Copper demand outlook is well supported by the proliferation
of renewables and rising electric vehicle penetration
Projected demand and supply gap by 2040e equivalent
to requiring an additional ~1Mt of copper production each year
Copper total demand
(Mt Cu)
70
0
60
60
50
40
40
30
20
10
Increase in demand from renewable power infrastructure,
electric vehicle (EV) chargers and EVS
Total copper demand increasing ~1.8x to 58Mt in 1.5°C scenario
2022
+82%
Regional mine production capability versus primary demand
(Mt Cu)
35
New mine supply required to
close gap, despite higher
assumed scrap recycling
30
25
CAGR 2000-2022:
20
2.3%
15
10
10
5
CAGR 2023-2026e:
1.6%
CAGR 2027-2040e:
(4.1%)
0
2040e
2000
2005
2010
2015
2020
2025e
2030e
2035e
2040e
Total production capability - World ex-China
Total production capability - China
Primary demand
Additional demand in a 1.5°C Scenario
Industrial
■Construction
Source: Wood Mac LTO Q4 2022, South32 analysis
■Transportation
Consumer durables
■Power infrastructure
Source: Wood Mac LTO Q4 2022, South32 analysis
SLIDE 33View entire presentation