23/06/2025
driving a New Era of Demand
The Electric Vehicle Sector (EV) is set to significantly increase global copper demand due to copper’s critical role in EV production. An EV requires between 85 and 183 pounds of copper, while contain between 183 and 814 pounds. Copper is used in electric motors, invertors, batteries, wiring, and charging stations because of its , and excellent conductivity.
The Democratic Republic of Congo (DRC) houses some of the world’s richest copper deposits, with ore grades surpassing 2.5 percent – more than 4 times the global average and 11 times that of the largest operating copper mine in the United States, Morenci. According to reports from the International Copper Association, global copper demand from EVs could rise to over 1.7 million metric tons by 2027, while total copper consumption could surpass 5 million metric tons annually by 2034.
In India, the government has taken significant steps to accelerate EV adoption through schemes like FAME – II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles), with a budget of Rs 10,000 crore to subsidise EV purchases and charging infrastructure. Additionally, the United States has introduced the Inflation Reduction Act, which offers tax credits for EV buyers and incentivizes domestic battery production.
Copper has emerged as a cornerstone of the EV revolution as the world accelerates toward a low-carbon future. The surge in EV production, coupled with the expansion of charging infrastructure and energy storage systems, is transforming copper from a traditional industrial metal into a critical component of growth.