Energy transition and artificial intelligence are increasing demand for copper.
The problem is that too little investment has been made in new copper deposits in the past. New sources of copper are now urgently needed. Industry heavyweight BHP has also recognized the situation and is trying to promote exploration with innovative programmes. There is a consensus that the demand for copper will increase due to general economic growth, digitalization and the energy transition - globally by an estimated 70 percent by 2070. It is not easy for new deposits to reach production maturity. Firstly, newly discovered deposits are few and far between and secondly, the lead times are very long, often taking 17 years to reach production. The latest data from the International Copper Study Group indicates that global copper mining production increased by around 1.5% between January and November 2024. More copper came from Congo, the Dominican Republic, Botswana, Serbia and Mongolia. There was a decline in production in Peru and the USA.
Global consumption of refined copper increased by 2.6% between January and November 2024. Overall, according to the International Copper Study Group, there appears to be a surplus of around 168,000 tons. An estimated 80 new mines would be needed in the future. Existing mines often suffer from declining ore qualities and ageing problems. According to forecasts, they will produce around 15 percent less copper in 2035 than they do today. Copper in mining projects should therefore be worthwhile.
Meridian Mining - https://www.commodity-tv.com/ondemand/companies/profil/meridian-mining-uk-societas/ - has copper, zinc, gold and silver in Brazil. The Cabaçal project has a very good preliminary economic assessment
Arizona Sonoran Copper - https://www.commodity-tv.com/ondemand/companies/profil/arizona-sonoran-copper-company-inc/ - is pleased to report progress on the Cactus Project (copper porphyry resource) in Arizona, in which the company has a 100% interest.
Current company information and press releases from the Arizona Sonoran Copper Company (- https://www.resource-capital.ch/en/companies/arizona-sonoran-copper-company-inc/ -) and Meridian Mining (- https://www.resource-capital.ch/en/companies/meridian-mining-uk-societas/ -).
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