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A quarter of the world’s copper mining projects are at increasing risk from the impacts of climate change, with extreme rainfall expected to affect production of the metal crucial for the global clean energy transition by 2050, new research shows.
Verisk Maplecroft’s Extreme Precipitation Index, which measures the frequency and intensity of heavy rains across seven different time horizons and three emissions scenarios, shows that 19% of copper mines already face significant risk from extreme weather events. This number is expected to rise as global temperatures increase, leading to both more severe rainfall and drought.
The number of Canadian copper sites facing high or very high risks from extreme precipitation is set to more than double, from 16 projects currently to 42 by mid-century . Countries like Mexico and the DRC, with fewer potential copper mines, are also projected to face heightened risks. In Mexico, the number of high-risk sites is expected to increase from two today to seven by mid-century. In the DRC, the projects exposed to extreme rainfall could triple from three to nine by 2050.Reconstruction efforts following such events are often costly and time-consuming, with damaged equipment and unsafe buildings requiring extensive repairs, Verisk Maplecroft says.
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