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Glencore Says Electric Car Boom Is Coming Faster Than Expected

May 16, 2017, 12:50 PM

Glencore PLC Chief Executive Officer Ivan Glasenberg said the rise of electric cars will significantly boost demand for minerals including copper and lithium in the coming decades.

“The electric vehicle revolution is happening and its impact is likely to be felt faster than expected,” Glasenberg told investors at an industry conference in Barcelona May 16. Almost all carmakers are increasing investment in electric vehicles as governments adopt tighter emissions targets, he added.

Electric vehicles require more copper wiring than standard internal combustion engines. For example, the battery in an electric car contains about 38 kilograms of copper, 11 kilograms of ...