Is Europe doing enough to secure its copper supply?

Copper is classified as a critical mineral by the European Union (EU) under the Critical Raw Materials Act (CRMA), qualifying projects for “strategic status” despite the red metal’s relatively low supply risk.

“Copper has the lowest supply risk among all the EU’s critical minerals,” Quentin de Hults, Director General of the International Copper Association (ICA) Europe, told delegates at the Benchmark Giga Europe event in Brussels this week. “Supply is diversified and the EU’s import reliance is limited, with recycling contributing significantly to European supply.”

“Despite copper ranking low on risk assessments, the EU has made an exception by designating it as a critical mineral. This is due to it being essential for electrification, energy efficiency, renewables, and digitalisation, making it strategically important for Europe,” de Hults added.

Why is copper strategic for Europe?

The transition to electric vehicles (EVs) and renewable energy will significantly increase copper demand in the coming years. EVs require two to three times more copper than traditional internal combustion cars, while renewables, such as solar and wind, are three to eight times more copper-intensive than fossil fuels.

Although the copper intensity of EVs per vehicle is steadily decreasing, rapidly increasing adoption rates globally means the e-mobility sector alone will require over 2.3 million tonnes of copper by 2030, according to the Benchmark Copper Service. This figure is set to exceed 4 million tonnes by 2040.

Highlighting the need for new supply sources, Mike Finch, Head of Strategic Initiatives at Benchmark, noted that meeting EV demand alone by 2040 would require the equivalent of three new mines the size of Escondida—the world’s largest copper mine.

Panellists noted that expanding the copper value chain in Europe would be critical for the bloc’s economic and military security. However, high energy costs, lengthy and complex permitting processes, and challenges securing project financing have hindered the expansion of mining and processing capacity in the region.

How is the EU addressing these challenges?

Policies such as the Critical Raw Materials Act (CRMA) aim to tackle these challenges by expanding mining and smelting capacity both within the EU and in partner countries.

Despite notable progress, further action is needed, according to Julia Poliscanova, Senior Director at Transport & Environment.

“Europe is not doing enough to secure the raw materials. We have strategic partnerships with partner countries, but we find ourselves in a situation where, in the same week the EU Commission signs a Memorandum of Understanding (MoU) with an African country, China acquires a mine in that very country,” she said.

“We need to rethink our value proposition to these nations so that it is just as attractive as China’s,” Poliscanova continued.

In 2023, the EU signed a strategic partnership with the Democratic Republic of Congo (DRC) to support sustainable raw materials value chains. But progress since has been slow, with European companies yet to invest directly into the DRC’s mining sector.

The DRC is the world’s leading source of new copper supply. Between 2019 and 2024, the country accounted for 72% of new global copper supply growth, according to the Benchmark Copper Service.

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