Book Description

Annotation In the next few decades copper will help to consolidate advances in telecommunications and Internet technology. The outlook for copper is bright, and despite the onset of recession in 2000, demand should pick up from 2002-2003 and return to reasonable industrial growth rates in the developed world. World copper prices are predicted to rise due to the dearth of new mining projects in the economic climate of 2001 and steadily rising metal demand led by China. In order to meet increased demand over the next 10 years there will have to be new mining capacity, including recycling of scrap copper and restarting idled capacity. China showed 13.6% growth in demand up to June 2001 and could overtake the US as the world's number one copper consumer in the next 20 years. Up-to-date, in-depth research and analysis to make you an authority on the world's major copper markets this report gives a clear, objective analysis of the world copper industry as it prepares to take advantage of soaring demand in the electronic, electrical and telecommunications industries. Some key findings of this report: How the output of the world's leading copper mines, Escondida, Chuquicamata and el Teniente is set to change over the next few years and what this means for Chilean and world copper production. Beyond 2003 copper demand will flatten in the mature, developed Western countries: this will leave the market delicately poised, and producers will largely be determining their own destinies when deciding when to commit to new projects. In the second half of this decade copper demand should pick up strongly, feeding fears of a shortfall in supply. Peru's copper output is set to be boosted by 50% through the Antamina mining project, owned by the Canadian consortium of Rio Algom, Noranda, Teck Corp and Mitsui. Telecommunications is a large and growing market for copper: the sector has seen factory sales growing at 8.3% compound rate over the past 8 years, led by strong growth in construction along with the increasing popularity of the Internet. Demand from the automotive sector will also boost consumption of copper in electrical and electronic applications. In 2001 the average copper content of a passenger car was 60lb, compared with under 55lb in 1995.