Global Copper Supply Shortage May Occur in 2028

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The Indonesian Mining Association (IMA) has warned that a surge in copper demand, driven by the global energy transition, could lead to a global copper supply shortage by 2028.The association's chairman pointed out that Indonesia's current copper production accounts for 3%-5% globally and is expected to rise to 15% by 2032-2035, but the lag in refining industrialization may miss market opportunities.

Currently, Indonesia produces about 1 million tons of copper concentrate annually, of which only 200,000-250,000 tons are used for domestic consumption, and the rest relies on exports, which will result in a loss of resource value if all concentrates are exported in the future without further processing. To meet this challenge, Indonesia is promoting the downstream development of the industrial chain by banning the export of copper concentrates.

But he called on the government to provideMore stimulus, accelerating the industrialization of copper products. He emphasized thatEnergy transition creates urgent demand for key minerals such as copperIndonesia needs to seizeResource AdvantageIn addition, we have developed a clear refining direction and optimized the investment climate to ensure that future copper production will be able toServing the domestic industryrather than relying solely on raw material exports.

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