Viscaria Copper Mine Reopens Amid Rising Demand for Copper in Europe
The Viscaria copper mine, originally founded in 2006 and sold multiple times, has been renamed from Copperstone Resources AB. With 65% of copper used for electrical applications, demand is projected to increase by 24% by 2035, driven by the green transition and AI data centers. CEO Jörgen Olsson highlights a worsening supply shortage as new deposits dwindle, and the global middle class continues to grow.
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The Viscaria copper mine, previously known as Copperstone Resources AB, has reopened due to a significant rise in copper demand. Founded in 2006, it changed ownership several times before its recent rebranding.
Currently, 65% of copper is utilized for electrical purposes, with the green transition and AI data centers further driving demand. Projections indicate a 24% increase in global copper demand by 2035, necessitating more mining over the next 30 years than in all of human history. CEO Jörgen Olsson notes a deepening supply shortage as easily accessible reserves are depleted, while alternatives like aluminum and silver are inadequate.
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