LONDON, October 13. /TASS/. Geopolitical tensions around the world, including the trade standoff between China and the US, could lead to a copper shortage by the end of the decade as the world is witnessing a breakdown in the global order, Ivanhoe Mines founder Robert Friedland believes.
"These tensions are Balkanizing the world economy, and we see it in the copper industry," he said in an interview with the Financial Times (FT) newspaper. The world is on the brink of a serious copper shortage, Friedland added.
Due to global geopolitical instability, companies are finding it more difficult to acquire mining equipment, which results in higher prices for the final product. The expert emphasized that order lead times are increasing, while the cost of building new mines is rising, leading to project delays.