Cost of copper must rise substantially to meet basic copper needs

The price of copper must at least double in order to spur the development of new copper mines to meet the world's growing demand for the metal, according to a team led by a University of Michigan researcher. The team led by U-M geologist Adam Simon examined barriers to producing the copper necessary to meet demands for the metal under different scenarios. They found that meeting basic copper demand is possible, but will require higher prices and reforms to the permitting process to encourage mining.