The Ministry of Economy, Trade and Industry (METI) of Japan convened the Second Public-Private Dialogue on Robust and Resilient Copper Supply Chains in London on October 16. The event, held during LME Week 2023, brought together government representatives from 14 countries and regions, along with 19 companies involved in the copper supply chain. Participants included mining firms, smelting companies, electrical equipment manufacturers, and relevant government agencies.
Key discussions focused on the concentration of smelting capacity for critical minerals like copper in specific regions, which participants acknowledged as a potential risk to supply chain resilience and economic security. They emphasized the need to diversify smelting capacity and operators to strengthen the copper supply chain. This includes fostering long-term commercial relationships, securing sustainable copper treatment and refining charges (TC/RC), and investing in copper mine development to meet future demand.
With global copper demand expected to rise due to AI infrastructure expansion and renewable energy deployment, METI pledged continued support for the sustainable development of the copper industry. The goal is to ensure a stable global supply of copper by addressing these challenges through ongoing collaboration between government agencies and companies across the supply chain.