UNCTAD – Global Trade Update: Focus on Critical Minerals, May 2025

Copper is a strategic commodity in the energy transition and digital economy, but there are supply constraints and long project lead times.

Restrictive trade measures and tariff barriers hinder value addition in producer countries, keeping them as primary exporters. Copper recycling becomes vital as primary production cannot meet growing demand, and 80 new mines will be needed by 2030. Developing economies need to not only extract and export ore but also engage in processing, manufacturing, and selling to derive real value.