Copper supply deficits could reach 10 million tonnes by 2040 - warns Vale Base Metals

20th October, 2026

Zak Jakubowski
Copper mine

London-based mining and processing company Vale Base Metals chief executive Shaun Usmar has warned that the mining industry is not on track to meet projected annual copper supply deficits of up to 10 million tonnes by 2040, calling for faster project development, greater investment and international cooperation.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
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