Sheridan, Wyoming and La Serena, Chile--(Newsfile Corp. - February 7, 2023) - US-based corporation, Kryptk Pacific Minerals (KPM), a mining operator with significant copper, gold and silver mine assets, initially raised $1 million for exploration and mine acquisition - primarily through its cryptocurrency partner - and now intends to raise $15 million to exploit newly acquired mines in Chile. This equity capital will be used for drilling and testing of the new mines for rare earths, bolstering its Chilean workforce and the purchase of operational equipment to expand copper production capabilities at active mines.
KPM was founded in 2021 by CEO Jayson Elliott, an attorney, mining investor and successful entrepreneur, after an expedition to Chile to seek opportunities for copper, precious metals and rare earths. In country, Jayson was best positioned to navigate the regulations and remote geographies of Chile, overcoming the challenges of doing business in Chile, and identifying mines with proven ore yields. Working with local engineers and geologists, he acquired distressed copper mining assets, primarily as a consequence of Covid.
The subsequent delivery of several loads of copper ore to local buyers ensured the proof-of-concept for KPM. Today, growing global demand is an opportunity to scale-up production, including the need to process mineral concentrates on site.
"We always start a new operation slowly, as it is important for us to get it right from the beginning," stated Elliott. "We cooperate with people who have mined in the local area, communities who know how to manage the process with minimal environmental impact." KPM allocates a proportion of its profits to reforest the land, support local communities and invests in renewable energy at off-grid sites.
The mining operations of Kryptk Pacific Chile SpA are located in the III and IV regions of Chile (Atacama and Coquimbo), 420 km north of Santiago. The region is home to some of the largest copper & gold mines in the world and has recently opened areas where a lack of roads previously made exploration & production impossible.
KPM has demonstrated that it knows how to secure valuable assets and operate in foreign countries. KPM sees Chile as a potential partner to process its copper resources responsibly and sustainably for use in electric vehicle batteries.
Copper is so integral to the green transition - with global demand buoyed by international efforts to reduce carbon emissions and the EV revolution - yet limited global supply threatens to deplete copper stocks by 2025-6. Inevitably, copper prices will rise.
Contact Info:
info@kryptk.com
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