Copper plays an essential role in our society. It is one of the key materials supporting economic growth and human development in emerging economies, for its common use in construction, power generation and transmission. It is also a critical metal for the transition to a low carbon future, particularly for its uses in renewable energy and electric vehicles. As a result, global demand for copper has been increasing steadily and is predicted to continue in the future. The demand-supply gap is currently growing, and new mines will be needed to fill it. This project observes the current pipeline of copper mining projects, which are characterised by technical complexity (lower grades, deeper deposits, complex mineralogy etc.) but also environmental, social and governance (ESG) complexities. A common assumption in the mining industry is that a rise in copper prices will unlock these deposits. However, while most technical complexities are price sensitive and are likely to be overcome in favourable economic conditions, the influence of ESG complexities is more difficult to evaluate.As ore grades decline and mining intensity increases, research suggests that ESG issues are becoming more prominent. Lower grades usually lead to an increase in energy consumption, water consumption, land use and waste generation, which in turn can lead to local community concern, conflict, permitting issues, and tightening of environmental regulations. We present a detailed study of ESG complexities for the 40 largest copper deposits and we evaluate how these complexities may act as a brake or a barrier to the projects' development.
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