Two mining giants, Newmont and Newcrest, have announced their merger to form the world’s largest gold mining company. However, experts predict that copper will soon become the new gold standard. The increased demand for electric vehicles and renewable energy sources has led to a surge in demand for copper, as it is a necessary component in these industries. The copper market was also impacted by the COVID-19 pandemic, causing supply chain disruptions and supply shortages. The merger between Newmont and Newcrest could potentially lead to increased focus on copper production, as both companies have significant copper operations.
Industry experts also predict that carbon capture and storage (CCS) will soon become a major player in the mining industry. CCS technology allows for the capture of carbon emissions produced during mining operations, which can then be stored to mitigate the effects of climate change. A growing consensus among companies and governments around the world to reduce carbon emissions has resulted in increased interest in CCS technology. This could lead to more funding for research and development in the mining industry, as companies seek to incorporate more environmentally sustainable practices.
Overall, the merger between Newmont and Newcrest showcases the growing importance of copper in the mining industry. As countries around the world transition to more sustainable energy sources, the demand for copper will continue to rise. Additionally, the incorporation of CCS technology into mining operations could lead to more environmentally sustainable practices.
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