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 that is 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 copper 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. Simultaneously, large operating mines in the Americas have had to navigate slowing production caused by their dwindling resources. 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.
The Kombat Mine is one of the most significant copper mines in Namibia.Mining operations originally commenced in 1962, producing until 2008, and with total output reaching 12.46 million tonnes of ore grading 2.6 percent copper on average.
SILVER HILL PROJECT
Trigon Metals holds a 100% interest in the Silver Hill project, a highly prospective copper and silver exploration project in Morocco. Silver Hill is a 16km2 property located in the Anti-Atlas region, already home to Africa’s major silver mines .
TOP AFRICAN JURISDICTIONS
Africa boasts vast resources of copper. In fact, Africa is believed to have some of the world’s largest yet undiscovered mineral reserves. (UNEP.org). However, many projects are located in jurisdictions where political challenges and corruption are an impediment to efficiency. While options for copper supply abound in places like the Democratic Republic of Congo, political corruption has caused uncertainty about project ownership and continues to stunt further development of that country’s potential. Similarly, 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 legislation and skilled labour.
Our projects include the Kombat Mine in Namibia and the 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 economy, fair laws and mining-supportive history, the country attracts significant international investment to the African continent.
Mining is the keystone of Namibia’s economy, generating approximately 25 percent of the country’s revenue with its large available workforce of mining professionals, and great road, rail and power infrastructure.
Morocco is 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. In 2021, Morocco was ranked among the top 10 countries in Africa for investment attractiveness.
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.