AI boom lifts mining while competing for power
Artificial intelligence is becoming both customer and rival for mining.
Alberta's data centre boom is simultaneously boosting mining development and competing for power resources. E3 Lithium's Clearwater lithium project is facing opposition from nearby data centres, which developers claim is damaging the reputation built for the lithium project. Meanwhile, Meta Platforms announced a $13 billion AI centre in Sturgeon County, prompting E3 to reevaluate its power consumption plans.
AI-driven demand for metals like copper, lithium, and aluminum is expected to nearly double global data centre electricity use by 2030, straining resources required for mining operations. Alberta and British Columbia are updating power rules to accommodate fast-growing technology companies, potentially hindering slower mine projects.
Metals are becoming increasingly essential for data centres, with copper demand projected to rise by half by 2040. Both E3 and Vale Base Metals see AI as a significant driver for copper demand, with Vale highlighting the need for electric pumps and dedicated power supply for their Clearwater project. Competing for power resources will intensify as more industries transition to electricity, potentially impacting the timing and cost of mining projects.
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