Arizona lawmakers are advocating for copper to be added to the federal critical minerals list. They say the metal plays a vital role in renewable energy infrastructure and has the potential for financial benefits if designated.
Copper is essential for building solar panels, wind turbines and other renewable energy technologies. Experts forecast global demand for the metal could increase by as much as 600% by 2030.
The rising need for copper is also expected to increase the price of metal. Current estimates suggest a jump from around $9,000 per ton to as much as $40,000 per ton by decade’s end.
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To address these anticipated costs, Arizona officials are urging the U.S. Geological Survey to recognize copper as a critical mineral. This designation could provide tax breaks and regulatory incentives for renewable energy developers.
While the Department of Energy already lists copper as a critical material, this classification doesn’t include the benefits of the Geological Survey’s critical minerals list.
The latter classification identifies minerals essential to the country’s economic and national security vulnerable to supply chain disruptions.
Inclusion on the Geological Survey’s list provides advantages such as accelerated permitting for energy and infrastructure projects.
Arizona has significant economic interests in this push, as the state produces roughly 70% of all copper mined in the U.S., generating over $6 billion annually for its economy.
However, the proposal has sparked environmental concerns. Critics argue that classifying copper as a critical mineral could open new mines without adequate public input, potentially near sacred tribal lands or popular fishing areas. These critics also worry about reduced oversight of mining operations.
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Despite these objections, the U.S. House of Representatives recently passed the Critical Mineral Consistency Act, which would add copper to the list. The measure now awaits action in the Senate.
[Jack Aylmer]
COPPER IS EXPECTED TO PLAY AN IMPORTANT PART IN WORLD’S ENERGY NEEDS OVER THE COMING YEARS.
SO, LAWMAKERS IN ARIZONA ARE PUSHING FOR THIS METAL TO RECEIVE A FEDERAL DESIGNATION THEY SAY REFLECTS THAT.
BECAUSE OF THE NEED FOR COPPER IN RENEWABLE ENERGY INFRASTRUCTURE LIKE SOLAR PANELS AND WIND TURBINES-
EXPERTS PREDICT THAT DEMAND FOR IT COULD INCREASE BY AS MUCH AS 600 PERCENT BY 20-30.
AS A RESULT, THE PRICE OF COPPER IS ALSO PROJECTED TO RISE-
WITH SOME ESTIMATES THAT IT COULD JUMP FROM NEARLY 9,000 DOLLARS PER TON TODAY, TO 40,000 DOLLARS PER TON COME THE END OF THE DECADE.
WITH THAT POTENTIAL SPIKE IN COSTS ON THE HORIZON-
ARIZONA OFFICIALS ARE ADVOCATING FOR THE U.S. GOVERNMENT TO PUT COPPER ON ITS LIST OF CRITICAL MINERALS.
A MOVE WHICH COULD EASE THAT ANTICIPATED FINANCIAL STRAIN ON RENEWABLE ENERGY DEVELOPERS.
THE ENERGY DEPARTMENT ALREADY HAS COPPER ON ITS CRITICAL MATERIALS LIST.
HOWEVER, THAT DOES NOT COME WITH THE SAME TAX BREAKS GRANTED TO THE CRITICAL MINERALS LIST MAINTAINED BY THE U.S. GEOLOGICAL SURVEY.
THE LIST IS USED TO IDENTIFY MINERALS DEEMED ESSENTIAL TO THE COUNTRY’S ECONOMIC OR NATIONAL SECURITY, AND VULNERABLE TO SUPPLY CHAIN DISRUPTION.
THE DESIGNATION ALSO COMES WITH ADDITIONAL REGULATORY BENEFITS-
LIKE ACCELERATED PERMITTING FOR CERTAIN ENERGY AND INFRASTRUCTURE PROJECTS.
ARIZONA HAS ITS OWN INTERESTS IN REGARDS TO THIS PUSH TO GET COPPER LISTED AS A CRITICAL MINERAL-
AS ROUGHLY 70 PERCENT OF COPPER PRODUCED IN THE U.S. COMES FROM THE STATE-
MAKING COPPER MINING HERE AN OVER 6 BILLION DOLLAR INDUSTRY.
MEANWHILE, SOME U.S. LAWMAKERS ARGUE ADDING COPPER TO THE CRITICAL MINERALS LIST COULD BE ENVIRONMENTALLY DETRIMENTAL.
SAYING IT MAY MEAN THAT NEW MINES WILL OPEN WITHOUT PUBLIC INPUT, POTENTIALLY NEAR POPULAR FISHING SPOTS OR SACRED TRIBAL LANDS-
AND THAT THOSE FACILITIES COULD OPERATE WITH VASTLY REDUCED OVERSIGHT.
DESPITE THESE OBJECTIONS, THE HOUSE OF REPRESENTATIVES APPROVED THE CRITICAL MINERAL CONSISTENCY ACT LAST MONTH-
LEGISLATION WHICH WOULD ADD COPPER TO THE CRITICAL MINERALS LIST.
THOUGH THE SENATE HAS YET TO ACT ON THE MEASURE.
FOR STRAIGHT ARROW NEWS – I’M JACK AYLMER.
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