The demand for copper is rising and these five companies are poised to meet it, so long as they invest in industrial solutions capable of handling a surge in mining activity.
Global demand for copper is on the rise. According to Fitch Solutions, demand is projected to increase from 26.6 million metric tons (mnt) in 2018 to 29.8mnt by 2027, which comes out to an average annual growth rate of 2.6%. At the same time, Fitch expects that global copper production will rise at an annual average growth rate of 3.6% over the same period as mining companies work to meet demand.
For mining enterprises around the world, this market environment presents a unique opportunity. By investing in copper mines and requisite infrastructure, it’ll be possible to capitalize on surging demand going forward with the best tools, personnel, and work sites for the job.
However dynamic the market for copper and the rush to capitalize on it will be over the next decade, though, it’s critical that mining companies ensure they’re investing in industrial products and services that can withstand the surge of activity sure to hit mining worksites. For these five mining companies in particular — those strategically positioned to profit off of copper’s rise — making the most of this market calls for sophisticated dust control solutions.
1. Auryn Resources
Based in Vancouver, Auryn Resources is known for its Committee Bay gold project in Nunavut. However, the mining company is also investing in copper operations in Peru. Auryn’s Sombrero copper-gold property, located 340 km outside of Lima, is slated for large-scale copper-gold mineralization. The first trench at the project has yielded 232 meters of 0.55% equivalent, which includes 40 meters of 1.26% copper equivalent.
2. Carube Copper
Carube Copper is a Toronto-based mining company with properties in Canada and Jamaica. Carube has licenses totaling 535 square km in Jamaica and 492 square km in British Columbia, all of which are slated for copper mining. Indeed, reports from Carube’s Jamaica properties indicate that the area is primed for high-grade, copper-silver mineralization. For example, the Cobre Verde prospect has yielded 16 meters of 1.22% copper and 7.8 grams of silver per ton.
3. GT Gold
Headquartered in Vancouver, GT Gold has been developing the Saddle discovery area located in the northern part of British Columbia’s Golden Triangle. The firm has likened this prospect to the nearby Red Chris deposit. According to GT, which is planning on drilling at Tatogga this year, a number of high-grade intercepts with mineralize intervals have been promising.
4. Peruvian Metals
Previously named Duran Ventures, Peruvian Metals changed its name to underscore its activity in the northern part of that country. Indeed, Peruvian Metals controls 80% of the interest in the Aguila Norte process plant. The mining company notes that the site is an independent processing facility available for crushing, milling, gravity separation, and flotation circuits, with a current throughput capacity of 100 tons per day.
5. Seabridge Gold
Seabridge Gold operates in the copper-gold KSM and Iskut properties in British Columbia and the Courageous Lake gold project in the Northwest Territories. This year, Seabridge increased the resource estimate for the Iron Cap deposit — one of the largest gold-copper porphyry deposits within its KSM project. This means that the Iron Cap deposit will be moved ahead of Seabridge’s Kerr and Sulphurets deposits in the project’s mine plan.
Investing in Mining Infrastructure
As demand for copper surges, these five mining companies are positioned to capitalize on an increasingly bullish market. However, making the most of copper’s rise requires investment in industrial products and services that can handle the increased activity caused by greater mining activity. With the help of patented dust control products from Midwest Industrial Supply, Inc., mining companies can ensure that their work sites remain safe for workers and nearby communities.
Thanks to more than four decades of experience in the mining industry, Midwest has the know-how companies need to get the most out of their work sites. Our line of dust control products can be tailored to fit the specific needs of any location and will withstand whatever weather conditions you and your team routinely face. If you’re looking to provide your haul and access roads with asphalt-like strength, reach out to Midwest today.