BT is on track to receive an estimated £2bn-plus windfall over the next decade from the sale of its old copper cabling. This comes as the company transitions the UK's network to full-fibre broadband and benefits from a surge in copper prices, partly attributed to the AI market.
Copper's value has increased significantly, reaching its highest-ever closing price of $14,294 a metric tonne on Friday. This metal is crucial for the growth of AI data centres, electronics, and the renewable energy sector.
BT has a recycling agreement with EMR, the UK's largest cable granulation company. The telecoms firm has already received £99m upfront for thousands of tonnes of surplus stripped copper, adding to a £105m payment made in 2024. These forward sale agreements are understood to cover the delivery of approximately 20,000 tonnes of copper over a four-year period each.
Openreach, a subsidiary of BT, is rolling out full-fibre broadband to 30 million homes by the end of the decade. It expects to recover up to 200,000 tonnes of high-grade recycled copper as the programme continues through the 2030s.
The rising value of copper has also led to an increase in theft across Britain's telephone network, railways, and windfarms. Openreach reported a 30% reduction in copper cable theft in 2024, attributing this to the deployment of synthetic DNA and UV tracer technology on underground cables.