MARKET
The U.S. Geological Survey, has released the draft 2025 List of Critical Minerals and for the first time in history they’ve recommended including silver and copper, alongside lithium, and rare earths as essential to economic security.
Silver and copper were added because new data show their strategic role in energy, tech, and defence, alongside rising supply chain risks and persistent global shortages.
Washington now categorizes silver and copper as materials whose supply disruption or even manipulation could threaten national security and the broader economy.
Silver and copper’s listing paves the way for government measures like streamlining mining permits, offering tax incentives, government investment, and possibly creating strategic stockpiles. This official recognition elevates these metals to commodities central to U.S. economic and defense interests.
Like gold, silver has been used as both a store of wealth and a currency for millennia. But silver is more than just coins and jewelry, much more…
Unlike gold, silver has strong industrial demand. And in 2025, silver’s story is being driven by two big forces: skyrocketing green tech demand and tight supply.
SILVER’S UNIQUE PROPERTIES ARE UNPARALLELED
Silver is the best electrical conductor of all metals and is essential for virtually all electronic devices, especially electric vehicles and solar panels.
Silver Industrial Demand Reached a Record 680.5 Moz in 2024, the Green Economy and Artificial Intelligence Contributed to the Record High
Whether driving green energy solutions or enabling advanced electronics, silver’s versatility ensures its place as a precious metal and an indispensable industrial commodity for the future.
Due to its unparalleled electrical properties copper is omnipresent in nearly all electrical infrastructure, especially clean energy and artificial intelligence. The boom in these industries, alongside NATO rearmament, is driving enormous demand for copper, but the supply is falling substantially short.
Data centers are significantly increasing global copper demand due to their reliance on copper for power distribution, cooling systems, and network infrastructure. This demand is projected to grow substantially with the rise of AI and machine learning. Copper demand for data centers could require 1.1 to 1.5 million tonnes annually by 2030.1
Clean energy technologies like renewable energy systems, electric vehicles, and energy-efficient infrastructure rely heavily on copper. As the world transitions to a low-carbon economy, copper demand is expected to significantly increase, potentially doubling by 2050.2
NATO’s 155 mm artillery shells each contain 0.5 kg of copper, and they aim to produce 4.2 million shells per year. One study estimates that military use of copper will increase by 14% per year until 2026, which would take it to 4.22 million tonnes. All of this was before NATO announced their spending target would be raised from 2% to 5% of GDP.3
Unlike gold, silver has strong industrial demand. And in 2025, silver’s story is being driven by two big forces: skyrocketing green tech demand and tight supply.
The global copper market size was USD 318.19 billion in 2023, calculated at USD 333.15 billion in 2024 and is expected to reach around USD 548.20 billion by 2034, expanding at a CAGR of 5.11% from 2024 to 2034.
1. theglobeandmail.com 2. sprott.com 3. fastmarkets.com
