Name: Why Copper Is Now One of the World's Most In-Demand Metals | WSJ
Uploaded: 2023-07-01T07:57:22.000Z
Duration: 5 min 3 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Modal verbs - B1

Adverbs of manner

but in today's global economy, it's actually worth a lot.

even the power grid itself copper is essential

- [Narrator] Here's why the metal has become so important,

is threatening the global push toward electrification.

- Electrification essentially means moving away

from relying so much on fossil fuels for our energy needs.

- [Narrator] Copper is critical to electrification

That's important when trying to make an electric car,

or windmill efficient so electricity isn't lost in transit.

- So copper is actually used in a great quantity

and other renewable energies much more so

- [Narrator] EVs require an estimated four times

about twice as much copper as coal power plants.

how much copper is needed for electrification

is supposed to lack behind at 30 million metric tons.

to meet the climate crisis with the urgency it demands.

- [Narrator] Kamala Harris is talking about

- Through the law, you basically get tax credits,

if you are involved in the making of, you know,

that are making solar components and whatnot.

And obviously since copper is such a huge component of that,

it's helping the prices for that as well.

Goldman Sachs estimates that demand for green uses of copper

of total demand growth between 2023 and 2040.

have all made moves to buy up other miners.

so they have decided to instead go buy other miners

and get them producing in the market much faster.

- [Narrator] But all of this consolidation

To find more, companies need to open new mines,

is simply go out and buy a stream of copper.

- [Narrator] Analysts say that copper prices

would need to rise to $15,000 per metric ton

and starting a new mine can take a prohibitively long time.

will take around 10 years to reach first production.

- And that's just the permitting process,

that's not even getting to the production part.

So just imagine how long it would take for you

to get any single like mine in the producing stage.

- There is increasing amounts of environmental unrest,

social unrest with regards to them being online,

especially as we've seen recently in some countries

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Why Copper Is Now One of the World's Most In-Demand Metals | WSJ

essentially

process

critical

access