BHP Billiton: Global Demand For Copper And Nickel Will Multiply Over The Next 30 Years.

Global demand for copper needs to more than triple over the next 30 years and nickel more than quadruple to propel the world toward a low-carbon future, a top BHP Billiton Executive said Wednesday.

As a world-renowned multinational comprehensive resources enterprise, BHP Billiton's main products cover iron ore, coking coal, copper, nickel, potash fertilizer and other mineral resources.

"Some of the models we've done suggest that in a low-carbon world... In the next 30 years, global demand for copper will almost double what it was in the last 30 years, "Vandita Pant, BHP Billiton's chief commercial officer, told the FINANCIAL Times Commodities Asia Summit." For a commodity like nickel, it will quadruple."

Both nickel and copper will see strong consumer demand in the transition from fossil fuels to new sources of energy. Nickel can be used in electric vehicle batteries, while copper is used in electric vehicle wiring, charging stations and other renewable energy infrastructure.

Commitments to end deforestation, curb CARBON dioxide and methane emissions, and halt public investment in coal power at the just past COP26 climate summit are also driving the next commodity supercycle.

The chief executive of Trafigura, one of the world's top five oil traders, warned on Tuesday of a serious future shortfall of cobalt, nickel and copper as global demand increases.

From now on, traceability and sustainability will be some of the main requirements of customers, BHP's Pant said, adding that the company has partnered with Tesla on a blockchain traceability project to track carbon emissions from its Nickel mine in Western Australia.