AI data-centre buildout pushes copper toward shortages, analysts warn — only 70% of 2035 demand could be met, 2025 deficit thought to be 304,000 tonnes

Copper shortages are looming due to the surge in AI data center construction, with only 70% of the projected 2035 demand expected to be met by existing and planned mines. Wood Mackenzie forecasts a 304,000-tonne refined-copper deficit by 2025, exacerbated by the high power requirements of large AI campuses. The increasing copper demand is creating a bottleneck for data center expansion, with hyperscalers outbidding grid suppliers for essential components. Legacy mines are facing challenges like lower ore grades and reduced output, while major projects worldwide are encountering obstacles such as accidents, opposition, and environmental restrictions, leading to a reliance on recycling and stockpiles to meet demand.