How the Expansion of Megacities Will Boost Metal Markets
June 11, 2024

How the Expansion of Megacities Will Boost Metal Markets


Urbanization drives metal demand, and megacities are leading the drive.


As developing economies grow, millions of people are moving to cities to pursue opportunities compounded by proximity and availability to resources. Many of these people see their economic circumstances improve, and consumption increases as a result.


Cars get more numerous, electricity and public transport networks expand, and consumers buy more electronic products for their homes. All of this means more steel, more copper, more aluminum, and more cement are needed.

The rise of China’s megacities in recent decades embodies this growth of living standards and demand for resources. By 2035, Oxford Economics forecasts that Asian cities as a group will be richer than European and North American cities combined, with six Chinese cities on the list of the 10 richest cities globally: Beijing, Chongqing, Guangzhou, Shanghai, Shenzhen, and Tianjin.


By 2035 these six cities are expected to double their wealth, while global average income per capita is expected to increase by only 37% during the same period.


This infographic, based on research from Swann, takes a look at how the growth of megacities will drive metal demand well into the future.


Megacities Metal Megatrend: Growth in Demand to 2035


The Swann Index measures the intensity of use of each metal by looking at global consumption in tonnes between 2014 and 2019, dividing by GDP per capita, and then forecasting demand up until 2035. Here are some key materials and how they are expected to fare:

Metal Demand (tonnes, 2019) Demand (tonnes, 2035) Change (2019–2035)
Nickel 2.4 5.2 116%
Steel 1.7 2.6 50%
Aluminum 66.0 103.6 57%
Copper 23.6 29.7 26%
Zinc 13.7 14.5 6%

Nickel demand is forecast to increase by 116%, from 2.4 million tonnes in 2019 to 5.2 million tonnes in 2035. The drive is fueled by consumer goods, batteries, and high-value new applications, such as super alloys and stainless steel.


Aluminum and steel are also expected to see significant growth of 57% and 50%, respectively. Aluminum’s growth will be particularly noticeable due to the market size, with an expected demand of 103.6 million tonnes in 2035.


Copper’s demand growth will largely be pushed by decarbonization and the transition to electrification and automated technology. The metal is expected to see demand increase by 26% to 29.7 million tonnes in 2035.


In comparison, zinc is likely to underperform other base metals, with an estimated increase of only 6%. This modest growth reflects strong competition from aluminum in some end-use markets such as diecast alloys.


Future Megacities on the African Horizon


Though megacity demand for metals is being driven largely by Asian growth in 2020, the focus will likely shift in the coming decades.


Projections of future population growth and the world’s biggest cities all point to Africa as the next leader in growth, and subsequently, demand. Estimates show that 17 of the 20 fastest growing cities from 2020 to 2025 are located in Africa.


By 2100, the world’s three largest cities with populations greater than 70 million are projected to be in Africa, with Nigeria’s Lagos leading the way. In fact, of the world’s 20 largest projected megacities, 13 will be in Africa and zero will be located in China.


For now, Asian and primarily Chinese cities are leading demand for urbanization materials and already putting a strain on some metals. Even though the future megacity landscape might change, the expected continued increase in economic growth and incomes will continue to drive metal demand.


Copyright © 2024 Visual Capitalist

VVC Appoints New President & Grants Options

March 18, 2025
TORONTO, March 18, 2025 - VVC Exploration Corporation, dba VVC Resources, (“VVC”), (TSX-V:VVC and OTCQC:VVCVF) announces the following: Appointment of Officers The Directors appointed Mr. Bill Kerrigan as President and Chief Operating Officer of VVC. Mr. Kerrigan will continue to be President of Plateau Helium Corporation. Mr. James A. Culver will remain as CEO of VVC. VVC Chairman, Terrence Martell, commented, "As a representative of Management and the Board, I extend heartfelt gratitude to Mr. Culver for his years of service as President. I also welcome Mr. Kerrigan to his new role as President and I am confident that he will provide positive momentum for VVC." Option Grant The Directors also granted incentive stock options under its stock option plan, to officers, directors and consultants of the Company, to purchase up to an aggregate of 15,700,000 common shares, representing 2.74% of the outstanding shares of the Company. The stock options are exercisable at a price of CA$0.05 per share expiring March 17, 2035. 25% of the options granted will vest immediately with the remaining vesting at 25% every six months. The exercise price was fixed at the minimum allowable price by the TSX Venture Exchange policies. The options, granted in accordance with the provisions of the Company's stock option plan, are subject to the TSX Venture Exchange policies and the applicable securities laws. Of the Options granted, 41.1% were to Directors, 30.3% to Officers and 28.7% to Employees/Consultants of the Company. About VVC Resources VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Results of VVC Annual Shareholders’ Meeting

December 5, 2024
The Company’s Annual General Meeting of Shareholders (“AGM”) took place virtually yesterday with 34 attendees (shareholders and guests). Total attendance in person and by proxy was 137 shareholders representing about 51.4% of the outstanding shares. At the AGM, shareholders approved the election of all Directors proposed by Management with over 90% of the tendered votes being in favor, and the re-appointment of MNP LLP as auditors of the Company with all of the tendered votes being in favor.
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