Demand for copper is surging.

The purple steel, thought-about a barometer for financial well being, is a crucial part for the development and protection industries in addition to a key part in electrical vehicles, wind generators and the ability grid.

However mining corporations are having a tough time maintaining.

Present mines and initiatives beneath development will meet solely 80% of copper wants by 2030, in keeping with the Worldwide Power Company.

“Excessive-grade financial copper sources are usually not considerable, this stuff aren’t everywhere, you must go discover them,” mentioned Chris LaFemina, world metals and mining analyst at Jefferies.

Inflation and the excessive prices related to constructing a brand new mine have additionally been a deterrent. 

To have a look at the challenges going through copper producers, CNBC acquired a behind the scenes take a look at Rio Tinto’s Kennecott mining operation outdoors of Salt Lake Metropolis.

Watch the video to be taught extra.