Global major miners are showing strong interest in copper, and this is reflective, as prices are at near all-time highs.
But why is this the case?
“One of the reasons is because of the green resolution,” Max Resource Corp President and CEO Brett Matich says. “This is tied to the build-out of clean energy.
“Copper forecast demand is set to double over the next 10 years.
“There are also depleting copper reserves that have been occurring over the past 10 years, as well.”
Matich emphasises that the push for electric vehicles will be the main driver of this revolution.
“The demand for electric vehicle charging stations is expected to go up 10 times over the next decade,” he points out.
The President and CEO outlines why having two exploration targets in South America is of significance.
“We are searching for Copper in North-East Colombia,” Matich details. “This area has only opened up in the past 10 years.
“We are finding a lot of Copper, and this is what is attracting a lot of the majors to an area like this.
“We are getting Copper contracts approved, and it will be the first time that the area has been drilled for it.”
Matich also revealed the uniqueness of the work the company does, in relation to copper mining.
“Being a junior company, they come in at the high-risk stage,” he adds. “And as the area matures, the majors then come in.
“But due to the huge demand for Copper, the major companies are now looking for early-stage projects that have the potential to be very large.”
“The last major Copper discovery was by a Canadian company called Ivanhoe Mines around 10 years ago, and it took them 20 years before they had a discovery hole.”
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