COMMENT •
Leon Louw - Editor • @ LeonLouw3 • llouw @ interactmedia . co . za
THE GREAT COPPER RUSH
Increased demand for copper as the world accelerates towards a greener future , and expected supply deficits as a result , has lifted the copper price to new highs . From being in the proverbial doldrums only a few years ago , copper has suddenly become high in demand , and a flurry of new copper projects are in the making .
As we all know , good copper deposits are abundant in Africa and the copper and cobalt belts of southern and central Africa , especially in the DRC Congo and Zambia , are well known and world-renowned . Mines in these areas have been producing copper at prolific rates for a very long time . What many people do not know , is that the Kalahari sands of Namibia and Botswana further to the west , and the arid plains of the Northern Cape in South Africa , host significant copper deposits , some of which have been mined for years over the last century .
Most of these mines were abandoned when the copper price tanked in the 80s and have now become sitting ducks for a flurry of international exploration companies . Copper is the talk of the town and the moment , and with professional investors like Rick Rule backing copper in a big way , these projects are looking more and more attractive .
When Robert Friedland started talking about the greatest copper boom ever a few years ago when his company Ivanhoe started developing the Kamoa-Kakula deposit in the DRC , many regarded it as one of the best sales pitches in the history of mining . Three or four years later those non-believers are all loyal copper and Friedland followers , and headlines like : ‘ Copper is the new oil ’, and ‘ Copper on the brink of a boom ’, are shared and reshared on social media with great vigour and enthusiasm .
In addition to Ivanhoe ’ s flagship project in the DRC , other copper projects to watch out for are Cupric Canyon Capital ’ s Khoemacau project close to Ghanzi in the Central Kalahari of Botswana , Orion Mineral ’ s Okiep project close to the town of Springbok in the Northern Cape Province of South Africa , and Deep-South Resources ’ Haib copper project in the south of Namibia . Both Khoemacau and Haib are greenfields projects while Okiep has been mined before . In addition , there are a range of new greenfields projects springing up across Namibia , which bodes well for the future of mining in the region . •
Leon Louw , Editor
Leon
For the latest industry and association news , events / exhibitions information , articles , etc .
Read it all online Visit our website
WWW . AFRICANMINING . CO . ZA
www . africanmining . co . za |
African Mining Publication |
African Mining |
African Mining • June 2021 • 3 |