BT on track for estimated £2bn windfall from selling old copper amid AI boom
Summary
BT expects to earn over £2 billion in the next ten years by selling old copper cables as it upgrades the UK’s phone network to full-fibre broadband. The rise in copper prices is driven by increased demand for electronics, AI data centers, and renewable energy.Key Facts
- BT is selling old copper cables through a recycling deal with EMR, the UK’s largest cable granulation company.
- BT has received upfront payments of £99 million and £105 million for copper to be delivered over the next four years.
- BT aims to connect 30 million UK homes with full-fibre broadband by 2030, removing old copper cables in the process.
- The company has recovered over 22,000 tonnes of copper since 2023, nearly tripling its previous yearly recovery.
- Copper prices hit record highs this year, reaching over $14,000 per metric tonne.
- The global demand for copper is expected to double by 2035, according to S&P Global.
- BT plans to recover up to 200,000 tonnes of copper by continuing its network upgrades through the 2030s.
- Copper theft has increased due to its high value, causing damage to underground cables in several UK regions.
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