The world devours copper
There can be no energy transition without copper.
(PresseBox) - Copper is not a rare metal per se and traces of copper can be found in almost all rocks. It also has very good recycling properties. But the world is devouring more and more copper. And so, it is permanently used in wind turbines and electric vehicles. There are still some copper deposits in the oceans and on land, but much of it is only theoretically recoverable. According to forecasts, the demand for copper is expected to be around 50 million tons of copper per year by 2035. However, only around 20 million tons are currently being mined each year.
Experts are therefore warning of an imminent copper deficit. Copper comes mainly from Chile, Peru, China and Congo. The two largest copper mines in the world are located in Chile. However, the copper content of Chilean mines is limited to less than one percent on average. Falling ore grades can be seen everywhere. New copper mines would be necessary, but the approval and development of a new mine takes around ten to 20 years, with an average of 18 years before production starts. In addition to wind turbines and electric vehicles, copper consumers also include solar systems and the modernization of power grids. For almost three days now, the ten million or so inhabitants of Cuba have had to experience what the situation is like in the event of a power cut. Wars such as the one in Ukraine are also copper consumers, as the production of ammunition consumes copper.
It is the global energy transition that makes copper so valuable. This is because green technologies require significantly more of the reddish metal than conventional technologies. And these are areas that are still growing. Companies that own copper, such as Mogotes Metals or Meridian Mining, have leverage on the copper price.
Mogotes Metals - https://www.commodity-tv.com/ondemand/companies/profil/mogotes-metals-inc/ - focuses on copper and gold in Argentina and Chile. The Filo Sur copper project in the Vicuña district in Argentina is considered particularly promising.
In Brazil, Meridian Mining - https://www.commodity-tv.com/ondemand/companies/profil/meridian-mining-uk-societas/ - has mines containing gold, silver, copper and zinc. The Cabaçal deposit in Argentina has a very good preliminary economic assessment.
Current company information and press releases from Mogotes Metals (- https://www.resource-capital.ch/en/companies/mogotes-metals-inc/ -) and Meridian Mining (- https://www.resource-capital.ch/en/companies/meridian-mining-uk-societas/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 22.10.2024 - 09:32 Uhr
Sprache: Deutsch
News-ID 713071
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"The world devours copper"
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