THE TRANSITION to net zero could be jeopardised by the lack of new copper mines to keep pace with growing demand, industry bosses have warned.

Copper is an essential metal used in renewable energy such as turbines and electric vehicle batteries. However, some of the world's largest copper producers fear there will be insufficient supplies to meet growing consumption levels.

Speaking at the FT Mining Summit, Kathleen Quirk, president of Freeport- McMoran, the largest US copper producer, said higher copper prices alone would not be enough.

"Now it's not just price. It's these other factors that really are going to limit how quickly we can develop supplies. What may end up happening is that this [energy transition] gets extended out longer."

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