South Carolina Startup Aims to Alleviate Looming Copper Shortage Through Urban Mining
There’s a looming copper shortage. This South Carolina startup wants to mine it from waste instead of ore
Image: Fast Company
With a projected 50% increase in copper demand by 2040, South Carolina's Red Metals is innovating urban mining techniques to recover copper from waste instead of traditional ore extraction. This approach could help address a looming supply shortfall of 10 million metric tons as global demand rises amidst various production challenges.
- 01Copper demand is expected to rise from 28 million metric tons to 42 million metric tons by 2040, driven by electric vehicles and data centers.
- 02Red Metals is constructing a $70 million facility in Charleston, South Carolina, to recycle copper from discarded products using AI technology.
- 03Currently, only about half of the copper in existing products is recycled, with much of it sent overseas for processing.
- 04The startup has raised $10 million in seed funding to demonstrate its copper rod production process this year.
- 05The U.S. collects approximately 1.6 million metric tons of copper scrap annually, with potential to significantly increase recycling efforts.
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A looming copper shortage is anticipated as global demand could rise by 50% by 2040, driven by sectors such as electric vehicles and data centers. In response, Red Metals, a startup based in Charleston, South Carolina, is pioneering urban mining techniques to extract copper from waste rather than traditional ore. The company aims to address a projected 10 million metric ton supply shortfall by building a $70 million facility that utilizes artificial intelligence to efficiently recover copper from discarded products. Currently, only about half of copper in existing products is recycled, often involving complex overseas processing. Red Metals has secured $10 million in seed funding to showcase its innovative copper rod production process. The U.S. generates around 1.6 million metric tons of copper scrap annually, and the startup believes that a significant portion of future copper demand could be met through increased recycling efforts, thus reducing reliance on mined copper.
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The establishment of Red Metals' facility in South Carolina could significantly enhance local recycling capabilities and contribute to the U.S. copper supply chain.
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