NEW YORK, May 7, 2018 /PRNewswire/ --
According to a research by Freedonia Group, the Global demand for copper metal (produced from refined copper and recycled scrap) is projected to advance 4.2 percent per year through 2019 to 36.0 million metric tons or valued at $261 billion. Strong growth in building construction expenditures are expected to boost the use of copper wire, tube, and other mill products in applications such as building wire and plumbing. In addition, advances in global manufacturing output are projected to boost the use of copper metal in transportation equipment, industrial machinery, domestic appliances, and other durable goods. European Electric Metals Inc. (OTC: EVXXF), Nevsun Resources Ltd. (NYSE: NSU), Hudbay Minerals Inc. (NYSE: HBM), Taseko Mines Limited (NYSE: TGB), Northern Dynasty Minerals Ltd. (NYSE: NAK),
The demand for copper is also tied to the growing popularity of electric vehicles (EVs) around the world. Electric vehicles use a significant amount of copper in their rechargeable batteries and rotors used in electric motors. According to Reuters, IDTechEx Senior Technology Analyst Franco Gonzalez said, "Demand for electric vehicles is forecast to increase significantly over the next ten years as technology improves, the price gap with petrol cars is closed and more electric chargers are deployed… Our research predicts this increase will raise copper demand for electric cars and buses from 185,000 tonnes in 2017 to 1.74 million tonnes in 2027."
European Electric Metals Inc. (OTC: EVXXF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: EVX). Last week the company announced that, "it has received assay results from the first four holes from the Phase 1 drill program at the company's Rehova Copper Project in Albania. Three of the holes were shallow holes, drilled in the periphery of the Kanisqel pit, with the aim of targeting near surface mineralization. The fourth hole targeted mineralization at the nearby historical BG deposit. All four of these initial holes intersected copper mineralization while assays are pending on additional holes drilled. These holes are vertical and the widths described below are all true widths.
Drill hole REH-05A in the Kanisqel west pit intersected 10 meters of 3.96% Cu from 51.2 meters depth and a lower grade zone of 0.66% Cu between 43.0 meters and 47.2 meters. The nearby historic hole (DH #05) reported a mineralized zone of 19 meters at 2.84% Cu. The hole in Kanisqel east (REH-49B) pit area located 257 meters from REH-05A intersected near surface mineralization (19 meters from the surface) that included a meter sample assaying 0.81% Cu.
On the BG deposit, drill hole 128A drilled on its eastern edge, encountered 11.5 meters of mineralization averaging 1.67% Cu from 98 meters. This is slightly higher than the nearby historic drill hole assay over 11.7 meters grading 1.42% Cu. Both the holes in Kanisqel pit area and BG are infill holes that are beginning to confirm historic drill results. Samples from the 4 additional holes that have been completed are being prepared for submission to ALS Global.
The samples were prepared at ALS laboratory in Bor, Serbia and sent for analysis to ALS laboratories in Europe. The Company included external control samples (blank and standards). ALS employed their own internal QAQC and control sampling.
Rehova is located 115 kilometers southeast of Tirana (200 km by road) and is on the electrical power grid. The property encompasses four historical volcanogenic massive sulphide deposits. These are surrounded by exploration areas of interest that have not yet been systematically tested using modern exploration techniques and technology. The four known deposits, called BG, Kanisqel, Ciflig and DT, comprise the Rehova copper mine complex, a historically producing mining operation which was operated by the Albanian state copper enterprise."
Nevsun Resources Ltd. (NYSE: NSU) is the 100% owner of the high-grade copper-gold Timok Upper Zone and 60.4% owner of the Timok Lower Zone in Serbia. The Timok Lower Zone is a partnership with Freeport-McMoRan Exploration Corporation ("Freeport") which currently owns 39.6% and upon completion of any feasibility study (on the Upper or Lower Zone), Nevsun Resources Ltd. will own 46% and Freeport will own 54%. Nevsun generates cash flow from its 60% owned copper-zinc Bisha Mine in Eritrea. On March 28, 2018, the company announced the results of a pre-feasibility study for the Timok Upper Zone copper-gold project in Serbia, one of the world's best development stage copper projects. Initial Probable Mineral Reserve of 27 million tonnes at 3.3% copper and 2.1 grams per tonne gold using a price of $3.00 per pound copper and $1300 per ounce gold
Hudbay Minerals Inc. (NYSE: HBM) is an integrated mining company primarily producing copper concentrate (containing copper, gold and silver), zinc concentrate and zinc metal. With assets in North and South America, the company is focused on the discovery, production and marketing of base and precious metals. Recently, the company released its first quarter 2018 financial results. Net profit of $41.4 million and earnings per share of $0.16 in the first quarter of 2018, compared to a net loss of $10.0 million (restated) and loss per share of $0.04 (restated) in the first quarter of 2017. Production of copper, gold and silver in concentrate increased by approximately 13%, 50% and 32%, respectively, in the first quarter of 2018 compared to the first quarter of 2017 as a result of higher milled throughput at all operations. In the first quarter of 2018, operating cash flow before changes in non‑cash working capital increased to $131.8 million, compared to $80.6 million in the first quarter of 2017, mainly as a result of higher copper sales volumes and higher realized prices of all metals.
Taseko Mines Limited (NYSE: TGB) is the owner (75%) and operator of the Gibraltar Mine, the second largest open pit copper-molybdenum mine in Canada. Taseko's Aley Niobium Project, Florence Copper Project, and New Prosperity Gold-Copper Project are all advanced staged projects which provide the company with a diverse commodity pipeline. Recently, the company reports the results for the three months ended March 31, 2018. Earnings from mining operations before depletion and amortization* was $13.5 million. In September 2017, the Company announced that it was moving forward with the construction of the Production Test Facility ("PTF") for the Florence Copper Project. Copper and molybdenum production in the first quarter was 22.9 million pounds and 0.4 million pounds, respectively, a decrease from previous quarters as a result of the anticipated lower grade mine feed combined with the increased use of lower grade ore stockpiles, a consequence of the summer wildfires;
Northern Dynasty Minerals Ltd. (NYSE: NAK) is a mineral exploration and development company based in Vancouver, Canada. On February 23, 2018, the company announced it has filed a technical report on southwest Alaska's Pebble Project, following up on its news release dated January 5, 2018. The technical report documents a minor increase in the estimate of the mineral resources at Pebble from those previously disclosed. At a 0.3% copper equivalent cut-off, the current estimate1 comprises: 6.456 billion tonnes in the combined Measured and Indicated categories at a grade of 0.40% copper, 0.34 g/t gold, 240 ppm molybdenum and 1.7 g/t silver, containing 57 billion pounds of copper, 71 million ounces of gold, 3.4 billion pounds of molybdenum and 345 million ounces of silver.
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