Copper becomes strategic priority for EU industry and global markets

Copper is emerging as a cornerstone of European industrial strategy, with 19 of the European Union’s 46 new strategic projects focusing on the metal to support the energy transition and reduce import dependency. These projects, which include mining, processing, and recycling, benefit from accelerated administrative procedures and access to EU funding under the Critical Raw Materials Act. Key European projects include mines in Greece, Spain, Finland, Poland, and Sweden, alongside processing facilities in Bulgaria and Belgium.

In North Macedonia, the rise in copper's strategic importance has reignited debates over how to utilize domestic geological potential, specifically regarding the ‘Ilovica-Štuka’ copper and gold project, while balancing environmental protection.

On the global market, copper prices have risen 17 percent this year, driven by demand from electrification, defense, and AI data centers. However, analysts warn of potential short-term corrections. The International Energy Agency (IEA) predicts that primary copper supply could be 25 percent lower than demand by 2035 due to declining ore quality and long lead times for new mining projects.