The task of ramping up copper supply to meet growing demand in the clean-energy transition is getting harder as societies and communities resist new mines and politicians seek a bigger share of the profit.
The decision shows the administration is increasingly comfortable prioritizing domestic conservation efforts, even as demand for minerals used to build electric vehicles rises amid efforts to combat climate change.
“The most likely outcome is an environment where commodity prices can settle from the extraordinary highs of 2021. But there are plenty of risks to this outlook," says Wood Mackenzie.