A significant copper deficit is causing concern.
Demand for copper is surging.
The red metal, viewed as a gauge of economic well-being, is essential for the building and military sectors, as well as a crucial element in electric vehicles, wind turbines, and the electrical grid.
But mining companies are having a hard time keeping up.
By 2030, the International Energy Agency predicts that only 80% of copper needs will be met by existing mines and projects under construction.
Chris LaFemina, global metals and mining analyst at Jefferies, stated that high-grade economic copper resources are not widely available and must be sought out.
The high costs of building a new mine and inflation have served as a hindrance.
CNBC obtained an exclusive behind-the-scenes look at Kennecott's mining operation near Salt Lake City to examine the challenges faced by copper producers.
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