Copper demand is rising with trends in electrification and technology, while supply chain security and recycling present ongoing challenges. CNBC looks at how copper is mined, processed and shipped.

The Kennecott Copper Mine in Salt Lake City is home to a major U.S. copper refinery, which plays a critical role in the nation’s copper production. The refinery receives ore that has already been processed by crushing, concentrating, and smelting. To reach the final purity of 99.99% copper, anode sheets are immersed in a chemical bath for about 10 days, after which 300-pound copper cathodes are separated from stainless steel and prepared for shipment.

Kennecott’s largest output is copper, but the site also extracts gold, silver, and tellurium. Tellurium is considered a vital mineral for solar panel manufacturing, and Kennecott’s operator, Rio Tinto, is one of only two domestic producers of this mineral. Together, the refinery and its associated smelter are responsible for supplying approximately 20% of refined copper in the United States and are one of only two such facilities in the country.

Industry experts note that demand for copper is being driven by several factors, including data centers, general construction, economic growth, and, notably, the ongoing energy transition. Copper is essential for electrification and the expansion of technologies like artificial intelligence. Although recycling is expected to contribute to future copper supply, the material’s long lifespan in products such as vehicles and homes limits its immediate availability from recycling streams.

Specialized supply chains for minerals like rare earths and copper depend heavily on secure access, prompting efforts by the U.S. administration to increase domestic production. This focus is intended to address potential vulnerabilities in the supply chain and meet increasing demand.



Copper refining in the U.S.

Pippa Stevens is at a critical U.S. copper refinery with the details. Pippa. Hey John, so when you think about mining, you probably think big open pit like where we were earlier at the Kennecott copper mine. But now we're in their refinery, which is as critical as the mine itself. It doesn't matter how many reserves you have of copper. If you can't turn it into a viable end product, it is a whole lot less valuable. So once the ore arrives here, it's already gone through the crusher, concentrator and smelter, but it's still got to get up to 99.99% copper. Anode sheets are dropped into a chemical solution to start that process. They stay in the bath for about 10 days before heading over to the cathode stripper, which is where I am right now. At that point, two cathodes, each weighing 300 pounds, are separated from the stainless steel and then ready to be shipped out. Now copper is by far Kennecott's largest product, but it also mines other things, including gold, silver and tellurium. That's what this is. It's another critical mineral that is key for solar panels. And Rio Tinto is one of just two domestic producers. So all told, this refinery supplies about 20% of US refined copper. And then with the accompanying smelter as well, that's one of just two in the US. So, John, with this broad focus on vamping up the US mining industry, projects like this one that are vertically integrated are becoming increasingly important. Now, Pippa, I imagine investors need to be at least aware of the possibility of oversupply. So what should they think about as the main demand drivers here? Is it just general construction and GDP growth? To what extent do do data centers and technology play into that? Yeah, so data centers are a big driver here for copper, but importantly, they're just the latest driver. What is really boosting copper and where the momentum really is is on the energy transition. Copper is the backbone of electrification. Think about all the wires, all the conductivity, all of that requires a lot of copper. And then you add AI on top of that. And that's why there are a lot of people saying we simply will not have enough supply. But of course, you do, as an investor, have to think about oversupply concerns. And there is also the question of recycling that is seen as an important source of copper looking forward. But the problem is that a lot of these applications, the copper is used for a very long time. An ICE vehicle, 18 years, you know, in a housing house, maybe more than 40 years. And so that is not an immediate source of extra supply. And so that's why with all this AI momentum, you know, people are saying got to have a lot more of that, Dr. Copper. Quickly, what about potential kinks in the supply chain? Could a lack of access to rare earths actually affect the ability of people who want to use copper to actually have a use for it? Yeah. So when you look at all of these very specialized supply chains like rare earths or copper, the ability to access it is what's so important. And that's why the administration is trying to ramp up domestic output. Got it. Pippa Stevens, great shot. Thank you.

Search and rescue operations continued overnight after flash floods slammed central Texas, killing dozens, officials said. More than 20 children are still missing from Camp Mystic, an all-girls camp hit by the floods, the Kerr County sheriff said.

Kerrville

Rescues continue in central Texas after deadly flash floods

Officials in the U.S. state of Texas say at least 13 people have died in overnight flash floods after torrential rains triggered an overflow of the Guadalupe River. Nearly 20 children attending a summer camp in the south-central area are missing.

Kerr County

Deadly Texas floods: Search efforts underway for missing children

Türkiye has been battling wildfires for more than a week, with its western province of Izmir among the hardest hit. Thousands have been forced to flee as flames threaten homes and villages.

Ödemiş

Turkiye wildfires: At least two dead as fires burn for eighth day

It was not clear if Hamas’ statement meant it had accepted the proposal from US President Donald Trump for a 60-day ceasefire.

Jerusalem

Hamas says it is  'positive' about latest ceasefire proposal

President Trump brought pomp and circumstance to his signing of the "big, beautiful bill" on Friday, with an Independence Day ceremony at the White House that included a B-2 bomber flyover.

Washington

Global Tariffs

Trump signs "big, beautiful bill" as tariff deadline looms

Heavy rainfall in central Texas caused the Guadalupe River to overflow and unleash a torrent of water. The bodies of at least 13 children and adults have been recovered and more than 20 girls are missing from a sleepaway camp.

Floods kill at least 13 in Texas, over 20 missing from summer camp

The talk comes a day after President Donald Trump and Russian President Vladimir Putin discussed Ukraine, Iran and other issues in a call the Kremlin described as "frank and constructive."

Kyiv

Ukraine Invasion

Zelenskyy, Trump agree on joint defense efforts in phone call

Russia pummeled Kyiv with the largest drone attack of the war, injuring at least 23 people and damaging buildings across the capital only hours after U.S. President Donald Trump spoke with Russia's Vladimir Putin, officials said.

Russia hits Kyiv with largest drone attack after Trump-Putin call

U.S. President Donald Trump marked the passage of the new spending bill, which includes changes to food assistance, student loan programs, and clean energy credits. Robert Costa joins "CBS Mornings" to break down what's in the legislation.

Trump set to sign "big, beautiful bill"

More than 80 Palestinians were killed in Gaza on Thursday (July 3), according to health officials, as Israel intensified its strikes, hitting a school-turned-displacement facility. CNN’s Paula Hancocks looks at the damage and humanitarian toll.

More than 80 people killed in Gaza in one day

Ukrainian President Volodymyr Zelenskyy said Kyiv will do "anything" to advance EU accession talks. Zelenskyy spoke alongside Danish Prime Minister Mette Frederiksen, President of the European Council António Costa and President of the European Commission Ursula von der Leyen.

Ukraine will do 'anything' to advance EU accession talks: Zelenskyy

President Donald Trump said Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States, a clear shift from earlier pledges to strike scores of individual deals.

Trump: Letters telling countries their tariff rate going out Friday

Indonesian rescuers on Thursday (July 3) temporarily halted a search for 30 people still missing after a ferry carrying 65 people sank near the island of Bali with the loss of six lives, the national search and rescue agency said.

Gilimanuk

Indonesia suspends search for 30 missing after ferry sinks near Bali

After marathon debate sessions in the Senate and House, President Donald Trump’s budget bill passed in the House. Republicans secured the biggest win of Trump’s presidency.

Trump’s landmark ‘big, beautiful bill’ narrowly passes U.S. House

Florida says the first group of migrant detainees have arrived at the new immigration detention center known as "Alligator Alcatraz." CBS News correspondent Shanelle Kaul has more.

Ochopee

First group of detainees arrive at "Alligator Alcatraz," Florida says

U.S. President Donald Trump said Thursday (July 3) that he spoke with Russian President Vladimir Putin and that he plans to hold a call with Ukrainian President Volodymyr Zelenskyy. CBS News White House reporter Willie James Inman has more.

Trump speaks with Putin, plans call with Zelenskyy

CNN’s Priscilla Alvarez reports on a lawsuit from lawyers for Kilmar Abrego Garcia alleging he suffered “torture and mistreatment” after he was wrongfully deported and held in El Salvador’s notorious mega prison.

Tecoluca

Kilmar Abrego Garcia claims he was tortured in El Salvadoran prison

The Kremlin welcomed the development, with spokesman Dmitry Peskov claiming it proves Western arsenals are being depleted and predicting that less aid will hasten the end of the conflict.

U.S. pauses military aid to Ukraine over depleted weapons stockpile

Two contractors employed by UG Solutions spoke to the AP on condition of anonymity as they were revealing their employers’ internal operations.

U.S. contractors say live ammo used at Gaza aid distribution site

Democratic leader Hakeem Jeffries spoke for hours on the House floor about potential impacts of President Trump's "big, beautiful bill" that Republicans are looking to pass before July 4. Following debate, the House is set for a final vote on the massive budget bill.

House debates Trump's 'big, beautiful bill' ahead of final vote

CBS News political contributor Caroline Polisi joins "CBS Mornings" to break down the jury's verdict in Sean "Diddy" Combs' federal trial and the judge's decision to deny bail for the music mogul ahead of his sentencing.

Manhattan

Sean "Diddy" Combs denied bail after split verdict

Liverpool soccer player Diogo Jota has died aged 28, just weeks after marrying his childhood sweetheart. The footballer passed away in a car crash in northern Spain.

Madrid

Liverpool soccer player dies in car crash 10 days after wedding

The Pentagon said that U.S. strikes 10 days ago had degraded Iran's nuclear program by up to two years, suggesting the U.S. military operation likely achieved its goals despite a far more cautious initial assessment that leaked to the public.

Tehran

Iran Strikes

Iran nuclear program degraded by up to two years: Pentagon

Days before his 90th birthday, the Dalai Lama announced the Gaden Phodrang Trust, a non-profit he founded, will have the sole authority to recognize his future reincarnation, but China insists it will choose the successor of the Tibetan spiritual leader.

Lhasa

China rejects Dalai Lama’s succession plan

The U.S. Congress inched towards approving President Donald Trump’s Big Beautiful Bill, despite attempts by Democrats to stop it. The bill is Trump’s signature legislation which includes massive spending increases on the military and immigration enforcement while slashing social programs.

Trump’s Big Beautiful Bill nears approval

Sean (Diddy) Combs was found guilty on prostitution-related charges, but was acquitted on more serious charges of racketeering and sex trafficking giving him a maximum sentence of 20 years. But the courtroom victory was subdued following a judge’s ruling to deny him bail.

New York

Diddy denied bail, avoids life in prison

President Trump says Israel has agreed to a 60-day ceasefire in Gaza, but it remains unclear if Hamas will accept the terms. CBS News senior foreign correspondent Debora Patta has more.

Trump says Israel has agreed to Gaza ceasefire conditions

Bryan Kohberger changed his plea to guilty Wednesday for the 2022 murders of four University of Idaho students. CBS News national correspondent Carter Evans has more on the case.

Boise

New details revealed as Kohberger pleads guilty for 2022 Idaho murders

The Wisconsin Supreme Court struck down a state abortion law that was adopted in 1849 in a 4-3 landmark decision. CBS News' Shanelle Kaul reports.

Madison

Wisconsin Supreme Court strikes down 176-year-old state abortion ban

Macron and Putin held regular discussions around the start of Russia's invasion of Ukraine, with Macron visiting Putin in Russia in February 2022, but dialogue eventually stalled.