{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Hot Chili (ASX:HCH) - Developing Chile's Advanced and Low-Risk Costa Fuego Copper-Gold Project","html":"","width":"100%","height":180,"duration":2360,"description":"Interview with Christian Easterday, Managing Director & CEO of Hot Chili Ltd.Our previous interview: https://www.cruxinvestor.com/posts/hot-chili-asxhch-chiles-next-major-copper-mine-advancing-a-tier-1-copper-asset-with-a-twist-5056Recording date: 10th June 2024Investors should take a serious look at copper as the world faces a looming supply crunch just as demand for the critical metal is set to surge. Copper's unique properties make it essential for electrification and the transition to renewable energy - two of the most powerful trends set to drive the global economy in the coming decades. However, a lack of new mine supply and declining grades at existing operations means the copper industry will likely struggle to keep pace with this demand.The numbers paint a compelling picture. Copper demand is forecast to grow nearly 3% per year through 2030, doubling the market's size. Electric vehicles, which use 3-4 times more copper than internal combustion engines, could add over 4 million tonnes per year of demand by 2030 - equivalent to 20% of the current market size. Renewable energy is even more copper intensive, with wind and solar power using 2-6 times more copper per megawatt than conventional sources.On the supply side, the world's copper mines are aging and their grades declining. Average copper grades have fallen from 1.2% in 2000 to 0.8% today and could decline to 0.5% by 2030 - meaning twice as much ore would need to be mined and processed to produce the same amount of copper. Reserves are also not being replaced - over the last decade the industry has consumed over 80 million tonnes of copper but found less than 30 million tonnes of new reserves.The project pipeline to meet these challenges looks thin. S&P Global estimates the industry needs to invest $100 billion to build 8 million tonnes per year of new mine capacity by 2030 to meet demand. Currently less than half that amount is being invested, and most advanced-stage projects face major obstacles....","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}