When it comes to copper, big miners and metals traders are warning that in just a couple of years’ time, a massive shortfall will emerge.

Mexico hopes its reserves of the key battery component will help it benefit from a global shift toward electric vehicle production.

The initiative, launched in June, is designed to funnel investment toward developing countries with mining projects that adhere to stricter environmental, social and governance standards.

Research company slashes its 2023 copper price forecast and predicts a return to $10,000-plus levels only in 2027 as long term structural deficits emerge.