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As electric vehicles continue to grow in popularity, the demand for copper is high
Pierre Vaillancourt, Research Analyst at Haywood Securities, gives an update on Copper Mountain Mining's two thriving projects. There is a growing world-wide demand for copper as it is in everything from electric vehicles to smart phones and other electronics. There’s no doubt we’ll continue to depend on copper as we look to expand renewable energy.
"Electric vehicles require some 80 kg per car on average in addition to charging stations, which require anywhere from 10 to 20 kilograms of copper. So, there's a real potential here for demand to continue to pick up," says Vaillancourt.
2 Projects in 2 Countries
The Copper Mountain mine is the company’s flagship asset. The mine is located in southern British Columbia, and produces approximately 90 million pounds of copper equivalent per year. According to Vaillancourt, the company has a clear to proceed with their expansion of the Copper Mountain mill to 45,000 tonnes a day this quarter. Furthermore, in the fourth quarter, they will be releasing a feasibility study on the the potential for an expansion to 65,000 tonnes per day.
The company also has a robust development organic growth pipeline, which includes the development-ready Eva Copper Project in Queensland, Australia. Moreover, based on the 2020 Feasibility Study, Eva Copper is expected to add approximately 106 million pounds of copper equivalent per year on average over its 15 year mine life. "It's in a very prolific producing area in Mount Isa," says Vaillancourt.
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