FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., June 29, 2022 /PRNewswire/ -- Copper is one of the oldest metals ever used and has been one of the important materials in the development of civilization. Because of its properties, singularly or in combination, of high ductility, malleability, and thermal and electrical conductivity, and its resistance to corrosion, copper has become a major industrial metal, ranking third after iron and aluminum in terms of quantities consumed. The copper ore mining market consists of sales of copper ores and concentrates by entities (organizations, sole traders and partnerships) that mine copper ores. The industry includes establishments carrying out activities such as developing mine sites and preparing copper ores and recovering copper concentrates through precipitation, leaching and elector wining copper ores. A report from Market Reports World projected that due to the COVID-19 pandemic, the global Copper market size is estimated to be worth USD 255160 million in 2022 and is forecast to a readjusted size of USD 343900 million by 2028 with a CAGR of 5.1% during the forecast period 2022-2028. It said that: "The market for copper mining is anticipated to increase at a considerable rate owing to increasing investments in construction projects which is a major consumer of copper industry." Another report from The Business Research Company added: "The growth in the copper mining market is due to increase in construction projects in rapidly developing countries such as China and India owing to rise in population and infrastructure." Active Companies in the markets today include Rockridge Resources Ltd. (OTCQB: RRRLF) (TSX-V: ROCK), Teck Resources Limited (NYSE: TECK) (TSX: TECK.A), Hudbay Minerals Inc. (NYSE: HBM) (TSX: HBM), Foran Mining Corporation (OTCQX: FMCXF) (TSXV: FOM), Copper Mountain Mining Corporation (OTCPK: CPPMF) (TSX: CMMC)
The Business Research Company continued: "The global copper mining market is further segmented based on type and geography. By Type - The copper mining market is segmented into refining industry, metal processing industry, chemical industry, others. By Geography - The global copper mining market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific copper mining market accounts the largest share in the global copper mining market. Autonomous drilling systems are being implemented by the copper mining industries to enhance safety, efficiency and productivity. This technology is being used to accurately identify drill location and drill production blast holes more effectively using advanced levelling technologies. Potential Opportunities In The Copper Mining Market With increase in building and construction projects, the scope and potential for the global copper mining market is expected to significantly rise in the coming years."
Rockridge Resources Ltd. (OTCQB: RRRLF) (TSX-V: ROCK) BREAKING NEWS: Rockridge Completes 3D Geophysics Modeling which Identifies 15 km Strike Length of Electromagnetic Conductors; Prepares for Fully-Funded Upcoming Drill Program at Knife Lake High-Grade Copper Project, Saskatchewan- Rockridge Resources Ltd. (Frankfurt: RR0) ("Rockridge" or the "Company") is pleased to announce it has completed its 3D Geophysical Plate Modelling of the recently acquired VTEM data which will be used to further refine targeting for Rockridge's upcoming drill program starting in mid-July 2022 at its Knife Lake High-Grade Copper VMS Project located in Saskatchewan, Canada (the "Knife Lake Project" or "Property"). Rockridge is fully funded and permitted for this drill program.
The Company is pleased to announce that the VTEM survey data displays up to 15 km strike length of highly conductive near-surface anomalies hosted in prospective stratigraphy in regional target areas. The regional target areas, which includes the Gilbert Lake Targets, were previously identified through geological mapping, surface sampling and geochemical analyses as stratigraphy with high potential to host valuable copper occurrences and other sulphide mineral occurrences. This stratigraphy is interpreted to be the same horizon that hosts the Knife Lake Deposit.
Knife Lake VMS Project Location Map: https://www.rockridgeresourcesltd.com/_resources/images/Knife-Lake-Region-20210331-003.jpg
Rockridge's CEO, Jonathan Wiesblatt, commented: "We are very excited for the upcoming drilling at our flagship asset and look forward to potentially making a new discovery and advancing the project. The 3D modeling of the five plates has confirmed our strategy that the Gilbert Lake Target will be the primary focus on this upcoming drill program in mid-July 2022. The project remains an exciting exploration story that can offer investors exposure to a top mining jurisdiction and to commodities in high demand such as copper, cobalt and zinc. We look forward to updating our shareholders in the coming weeks."
Updates for Upcoming Diamond Drilling Program: The focus of the 2022 drill program will be on the highly prospective Gilbert Lake target area. The Gilbert Lake targets were identified from the results and interpretation of the 2021 geophysical, drill and field programs. Results from these programs show that airborne VTEM surveys can successfully identify zones of VMS-style mineralization hosted in favourable stratigraphy on the property. Additionally, the Company has now finalized the 3D modeling of the VTEM data focusing on the highest-priority drill targets for the upcoming program. Rockridge has signed all major contracts including the drill contractor, camp construction, and helicopter rental. The drill program is scheduled to commence in mid-July 2022. The Company has also received its Exploration Permit which expires in February 2024 and hence can conduct drilling, geophysical works and prospecting. CONTINUED… Read this full release for Rockridge Resourcesat: https://rockridgeresourcesltd.com/news-and-media/news/
Other recent developments in the markets include:
Teck Resources Limited (NYSE: TECK) (TSX: TECK.A) recently announced that it will release its second quarter 2022 earnings results before market open on Wednesday, July 27, 2022.
A webcast to review the results will be held as follows on Wednesday, July 27, 2022, 8:00 a.m. PT / 11:00 a.m. ET, Wednesday, July 27, 2022 or teck.com.
An archive of the webcast will be available at teck.com within 24 hours.
As one of Canada's leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal, as well as investments in energy assets. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck's shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK.
Foran Mining Corporation (OTCQX: FMCXF) (TSXV: FOM) recently provided assay results from 14 holes drill on the Company's 100%-owned Bigstone Project, located approximately 25 kilometres ("km") west of the McIlvenna Bay deposit. Drilling focused on both the Bigstone deposit and the Marconi prospect which is located 500 metres ("m") to the east. Together, these targets represent a large prospective copper, zinc, and gold mineralizing system that will be the focus of continued exploration during the 2022 summer program.
Dan Myerson, Foran's Executive Chairman & CEO, commented, "On the back of our new discovery at Tesla, we are excited to announce more exploration success at Bigstone-Marconi. These results continue to underpin our strategy to explore and discover near-mine opportunities under a centralized milling scenario. We continue to intercept high grade copper and zinc mineralization, but recent work outlines a substantial opportunity to also uncover extensive anomalous gold zones. It is evident that our exploration techniques are working, and this is only the tip of the iceberg given our vast canvas of targets. Through systematic exploration and drilling, there is significant potential to transform our properties into the next major mining camp in Canada."
Hudbay Minerals Inc. (NYSE: HBM) (TSX: HBM) recently announced that mining activities at the company's 777 mine in Flin Flon, Manitoba, have concluded after the reserves were depleted following 18 years of steady production. Closure activities at the 777 mine have commenced and employees and equipment are transitioning to the company's operations in Snow Lake, Manitoba.
"777 was a state-of-the-art mine that represented the pinnacle of a century of shared success for Hudbay and Flin Flon," said Peter Kukielski, Hudbay's President and Chief Executive Officer. "Though the closure of 777 marks the end of a mining era in Flin Flon, we will continue with exploration activities in the region. We care deeply about the community and creating a bright future for mining in northern Manitoba. Hudbay's transition to Snow Lake will help deliver that future and demonstrate our commitment to being a valued member of our communities."
Copper Mountain Mining Corporation (OTCPK: CPPMF) (TSX: CMMC) (the "Company" or "Copper Mountain") has recently been made aware by the ASX of media speculation regarding a possible transaction related to the Eva Copper Project in Queensland, Australia.
The Company's policy is not to comment on market speculation. The Company notes that it regularly reviews strategic opportunities to enhance shareholder value, and to this end, the Company has engaged Macquarie Capital to evaluate strategic opportunities regarding the Eva Copper Project. There are no pending transactions with respect to the Eva Copper Project of any nature at this time. The Company will update the market as necessary in line with its continuous disclosure obligations.
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