Global Copper Consumption and Demand
Copper is an essential resource in today’s world. It is also a key component in technology and modern infrastructure in growing demand. Due to its high conductivity and efficiency, copper is vital to electric vehicles (“EV”), power cabling, solar energy, among other sectors. The EV market alone is expected to continuously grow in demand over the next 10 to 15 years. Consequently, the need for the red metal continues to grow exponentially as evidenced by a worldwide shift toward renewable energy and unprecedented industrial demand.
Meeting Copper Demand as Supply Dwindles
In recent years, new copper discoveries have slowed. As a result, large operating mines in the Americas have had to navigate slowing production caused by dwindling resources. The low supply, alongside increased demand, has resulted in the copper price surging to all-time highs. It is imperative that resources can be identified and developed quickly to address the global demand.
Africa boasts vast resources of copper. However, many projects are located in jurisdictions where political challenges and corruption are an impediment to efficiency. Options for copper supply abound in Democratic Republic of Congo, yet, corruption has caused uncertainty about project ownership and continues to stall further development of the country’s obvious potential. Also, In Zambia, threats of implementing super taxes have slowed development over the past decade.
Uncertainty and delays are bad for business. the corollary is that high-quality projects in countries that are friendly to mining and ready for business are likely to command a premium. That is why Trigon Metals is committed to working in jurisdictions with stable governments, mining-friendly laws and skilled labour. This big-picture focus sets us apart from the competition, offering excellent shareholder value as we explore and develop projects where there are no barriers to success.
Top African Jurisdictions
Our projects include the Kombat Mine in Namibia and Silver Hill Project in Morocco, two of the best jurisdictions for copper mining in Africa.
Namibia is a country in southern Africa bordering the Atlantic Ocean to the west, Zambia and Angola to the north, Botswana to the east and South Africa to the south. The country plays a key role in the mining sector. Benefiting from a stable economic, legal and mining-supportive history, the country attracts significant international investment to the African continent.
Mining is the keystone of Namibia’s economy, therefore responsible for 25 percent of the country’s revenue with a large available workforce of mining professionals, and great road, rail and power infrastructure.
The Atlas Mountains of Morocco contain the richest geological treasures, boasting deposits of high-grade mineralization. The country produces approximately 40 million tonnes of minerals annually, including 90 per cent of the world’s supply of phosphates in addition to copper, cobalt, silver, zinc and gold.
Morocco is also well recognized as a favourable jurisdiction for mining; a friendly business environment with clear evidence of historical mining activity but very little systematic modern exploration to date.