Market Talk – May 1, 2024
ASIA: The major Asian stock markets had a negative day today: NIKKEI 225 decreased 131.61 points or -0.34% to 38,274.05 Shanghai closed Hang Seng closed ASX 200 decreased [...]
Mining Expansion for Green Energy
MiningWatch Canada is estimating that 3 billion tons of mined metals and minerals will be needed to power the energy transition. All of this nonsense for climate change means that mining for minerals will escalate dramatically. There will be an incredible expansion in the mining industry for six critical minerals: lithium, graphite, copper, cobalt, nickel, and rare earth minerals. What is really just insane is that even if this green energy were to last, over the next 30 years, we will have to increase the production of these minerals consuming more that all the past generations combined. Our What-If models project copper at 9-10 by 2028 shutting down fossil fuels and moving to battery-stored electricity.
The post Mining Expansion for Green Energy first appeared on Armstrong Economics.
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