Data: IEA; Note: Other clean uses includes demand for wind, grid battery storage, other low emissions power generation and hydrogen technology. Chart: Alice Feng/Axios
The world needs more copper to greatly expand low-carbon energy alongside traditional uses of the metal, Ben writes.
Why it matters: This dynamic is front and center as mining giant BHP pursues Anglo American, which today rejected BHP's initial offer.
The combined players would control roughly 10% of global output, per Mining.com.
BHP cited Anglo's "world class" copper assets when confirming its bid.
The big picture: The chart above shows the International Energy Agency's projection of copper needs under nations' current climate pledges.
Multiple analyses tell some version of this story — cleaner grids and vehicles rely on growing volumes, and a supply crunch threatens.
"The industry's top executives are all betting on a price surge in the years ahead," the FT reports.
What we're watching: BHP's next move, and whether other Anglo suitors emerge.