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Base Metals

The Looming Copper Supply Crunch

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The Looming Copper Supply Crunch

The Looming Copper Supply Crunch

This infographic is presented by Western Copper & Gold

Copper is among the three most used metals in the world, and high quantities of the red metal must be mined every year to meet global demand.

The market for copper is equal to approximately $120 billion each year, which rivals that of even iron ore, the most widely traded metal. This is because infrastructure, technology, and automobiles consume massive amounts of copper.

Behind silver, copper is the second best metal for conducting electricity. That’s why 75% of copper is used in electrical wires or for wiring in machinery. From power grids to motherboards, copper wire is indispensable to modern society.

Copper is also essential for green energy and a sustainable future. For example, each generation of car needs more copper wiring: a gasoline-powered car needs 55 lbs, while hybrids and electric vehicles need 110 lbs and 165 lbs respectively. Further, it is estimated that an average of 3.6 tonnes of copper is used for each MW of wind power.

The Copper Supply Problem

The problem is: copper is not being discovered fast enough to meet upcoming demand. A study by Wood Mackenzie found that there will be a 10 million tonne supply deficit by 2028. That’s equal to the annual production of the world’s biggest copper mine (Escondida) multiplied by a factor of ten.

There are several reasons for this.

First, it now takes longer to go from discovery to production than ever before in the mining industry. Geological, environmental, and political challenges have brought the average lead time to around 20 years for new mines.

Beyond all of the challenges above, the economics also have to line up. Thomson Reuters GFMS estimates that for new copper supply to be incentivized to come online, the copper price must be $3.50 per pound.

Copper mining is all about grade or scale. The majority of global output comes from mega mines that have massive economies of scale to reduce costs. However, it has been a long-running trend that the grades for these established mines are dropping.

A good example of this is Escondida, the world’s largest copper mine which is located in Chile. It produced 6% of global copper output in 2014, but the mine is facing a similar problem to that of other large copper projects: grades are dropping. In 2007, the copper grade was 1.72%, but it is predicted to drop to half of that in upcoming years. In fact, BHP Billiton is expecting a year-over-year decline of 24% between 2015 and 2016.

Codelco is the world’s largest copper miner overall, and has recently announced a $25 billion investment plan to expand aging mines. It will spend $5 billion each year, but it expects no significant gain in production for its efforts.

The Coming Supply Gap

Add these factors together, and stocks of copper are at their lowest levels since 2008. Further, 4% of the world’s copper mining capacity falls off the table each year, which means that this must be replaced somehow.

With 10 Escondidas needed to fill a 10 million tonne supply deficit by 2028, metals investors need to stay vigilant as changes in the market will be coming.

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Base Metals

Prove Your Metal: Top 10 Strongest Metals on Earth

There are 91 elements that are defined as metals but not all are the same. Here is a breakdown of the top 10 strongest metals and their applications.

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Prove Your Metal: Top 10 Strongest Metals on Earth

The use of metals and the advancement of human civilization have gone hand in hand — and throughout the ages, each metal has proved its worth based on its properties and applications.

Today’s visualization from Viking Steel Structures outlines the 10 strongest metals on Earth and their applications.

What are Metals?

Metals are solid materials that are typically hard, shiny, malleable, and ductile, with good electrical and thermal conductivity. But not all metal is equal, which makes their uses as varied as their individual properties and benefits.

The periodic table below presents a simple view of the relationship between metals, nonmetals, and metalloids, which you can easily identify by color.

The Periodic Table

While 91 of the 118 elements of the periodic table are considered to be metals, only a few of them stand out as the strongest.

What Makes a Metal Strong?

The strength of a metal depends on four properties:

  1. Tensile Strength: How well a metal resists being pulled apart
  2. Compressive Strength: How well a material resists being squashed together
  3. Yield Strength: How well a rod or beam of a particular metal resists bending and permanent damage
  4. Impact Strength: The ability to resist shattering upon impact with another object or surface

Here are the top 10 metals based on these properties.

The Top 10 Strongest Metals

RankType of MetalExample UseAtomic WeightMelting Point
#1TungstenMaking bullets and missiles183.84 u3422°C / 6192 °F
#2 SteelConstruction of railroads, roads, other infrastructure and appliancesn/a1371°C / 2500°F
#3ChromiumManufacturing stainless steel51.96 u1907°C / 3465°F,
#4TitaniumIn the aerospace Industry, as a lightweight material with strength47.87 u1668°C / 3032°F
#5IronUsed to make bridges, electricity, pylons, bicycle chains, cutting tools and rifle barrels55.85 u1536°C / 2800°F
#6Vanadium80% of vanadium is alloyed with iron to make steel shock and corrosion resistance50.942 u1910°C / 3470°F
#7LutetiumUsed as catalysts in petroleum production.174.96 u1663 °C / 3025°F
#8ZirconiumUsed in nuclear power stations.91.22 u1850°C / 3.362°F
#9OsmiumAdded to platinum or indium to make them harder.190.2 u3000°C / 5,400°F
#10TantalumUsed as an alloy due to its high melting point and anti-corrosion.180.94 u3,017°C / 5462°F

Out of the Forge and into Tech: Metals for the Future

While these metals help to forge the modern world, there is a new class of metals that are set to create a new future.

Rare Earth elements (REEs) are a group of metals do not rely on their strength, but instead their importance in applications in new technologies, including those used for green energy.

MetalUses
NeodymiumMagnets containing neodymium are used in green technologies such as the manufacture of wind turbines and hybrid cars.
LanthanumUsed in catalytic converters in cars, enabling them to run at high temperatures
CeriumThis element is used in camera and telescope lenses.
PraseodymiumUsed to create strong metals for use in aircraft engines.
GadoliniumUsed in X-ray and MRI scanning systems, and also in television screens.
Yttrium, terbium, europiumMaking televisions and computer screens and other devices that have visual displays.

If the world is going to move towards a more sustainable and efficient future, metals—both tough and smart—are going to be critical. Each one will serve a particular purpose to build the infrastructure and technology for the next generation.

Our ability to deploy technology with the right materials will test the world’s mettle to meet the challenges of tomorrow—so choose wisely.

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Base Metals

20 Common Metal Alloys and What They’re Made Of

You can’t find stainless steel, brass, sterling silver, or white gold on the periodic table. Learn about 20 common metal alloys, and what they are made from.

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Every day, you’re likely to encounter metals that cannot be found anywhere on the periodic table.

You may play a brass instrument while wearing a white gold necklace – or maybe you cook with a cast iron skillet and store your leftovers in a stainless steel refrigerator.

It’s likely that you know these common metal alloys by name, and you can probably even imagine what they look and feel like. But do you know what base metals these alloys are made of, exactly?

Common Metal Alloys

Today’s infographic comes to us from Alan’s Factory Outlet, and it breaks down metal and non-metal components that go into popular metal alloys.

In total, 20 alloys are highlighted, and they range from household names (i.e. bronze, sterling silver) to lesser-known metals that are crucial for industrial purposes (i.e. solder, gunmetal, magnox).

20 Common Metal Alloys and What They

Humans make metal alloys for various reasons.

Some alloys have long-standing historical significance. For example, electrum is a naturally-occurring alloy of gold and silver (with trace amounts of copper) that was used to make the very first metal coins in ancient history.

However, most of the common metal alloys on the above list are actually human inventions that are used to achieve practical purposes. Some were innovated by brilliant metallurgists, while others were discovered by fluke, but they’ve all had an ongoing impact on our species over time.

Alloys with an Impact

The Bronze Age (3,000 BC – 1,200 BC) is an important historical period that is rightfully named after one game-changing development: the ability to use bronze. This alloy, made from copper and tin, was extremely useful to our ancestors because it is much stronger and harder than its component metals.

Steel is another great example of an alloy that has changed the world. It is one of the most important and widely-used metals today. Without steel, modern civilization (skyscrapers, bridges, etc.) simply wouldn’t be possible.

While nobody knows exactly who invented steel, the alloy has a widely-known cousin that was likely invented in somewhat accidental circumstances.

In 1912, English metallurgist Harry Brearley had been tasked with finding a more erosion-resistant steel for a small arms manufacturer, trying many variations of alloys with none seeming to be suitable. However, in his scrap metal heap – where almost all of the metals he tried were rusting – there was one gun barrel that remained astonishingly untouched.

The metal alloy – now known to the world as stainless steel – was a step forward in creating a corrosion-resistant steel that is now used in many applications ranging from medical uses to heavy industry.

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