E - Electrification of Vehicles Increases Copper Demand
2023-11-29 03:11:32 ET
Regulus Resources CEO, John Black speaks on the increased demand of copper, especially with the rise of electric vehicles.
"At Regulus Resources we specialize in identifying large copper deposits at an early stage. We then capture those projects and we drill them out. We de-risk them through a pre-feasibility stage and then ideally we sell that to a major mining company. Our previous company was called Antares Minerals. We identified the Haquira project in 2005. We drilled that out and in 2010 we sold that First Quantum for about 650 million dollars. Very same team.
We've managed to identify another very interesting copper project in northern Peru called AntaKori. That project actually comes with the benefit of having an additional gold component to it as well. Very good grades and it's most likely to be a large open pitiable resource. Copper's a very interesting metal to be looking for right now because it's fundamental to almost anything that involves electricity and with increased electrification of vehicles, we're seeing a very real increase in demand right now and that's likely to continue.
Right at the same time that we've have been very good about finding and putting new mines into production. We have two hundred and fifty million tons of indicated mineralization and a greater confidence as well as an additional two hundred and sixty seven million tonnes of inferred resource. In the very near term we're going to see a shortage of copper likely a increase price in copper and we believe we'll be delivering a brand new copper deposit rate at the right moment." - Regulus Resources CEO, John Black
A Canadian Exploration Company
Regulus Resources Inc. is a Canadian exploration company formed in December 2010 under the directorship of the former management of Antares Minerals Inc. (TSX V.ANM): John E. Black, Dr. Kevin B. Heather and Mark Wayne. Regulus was created through the spin-out of the Rio Grande Cu-Au project in Argentina at the conclusion of the sale of Antares to First Quantum Minerals (TSX.FM, UK FQM) for approximately C$650 million, primarily for the giant Haquira Cu-Mo-Au deposit in Peru.
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