Global Copper Exploration

Global Copper Exploration

The precious metal copper is a reddish-gold metal that can be used in a malleable or ductile form. If we look into history, copper was first used by human beings over 10,000 years ago. This metal can be easily hammered and molded into a variety of shapes to be worked on. Later on, people developed their skills and discovered various uses of copper in fields of construction, electronics, and other industrial work. Several mining companies are contributing to copper exploration, extraction, and production. Solaris Resources is one of the mining companies involved in providing exploration and mining services.

The Need of Copper Exploration

Usually, copper is found with sulfur in combined form. Due to its multiple properties, including high malleability and ductility, corrosion resistance, and thermal and electrical conductivity, copper is used as an essential component of several products. Solaris Resources focuses on copper exploration. According to the Factbook of International Copper Study Group, the use of refined copper more than tripled compared to demands of the past 50 years which was 19.1 million tons in 2017. The Copper Alliance, which is led by the International Copper Association (ICA), has acknowledged the emergency applications of copper given as follows;

  1. Seismic Energy dissipation
  2. Antibacterial Surfaces
  3. Electrical propulsion
  4. Renewable energy

The mining industry is a major force for a country’s economy, as per the report of the International Council of Mining and Metal (ICMM). Copper is not just a mined metal; it has huge importance in the employment sector. It has enhanced the standard of living. Copper production in Gibraltar Mine has supported the economy.

World’s Contribution In Copper Exploration

If you perceive the timeline of copper over the past decades, you will observe how copper has advanced human civilization. To obtain pure copper, multi-stage processes are facilitated. According to U.S. Geological Survey 2020, the global reserves of copper are estimated at 870 million tons, whereas 28 million tons is the annual demand. Read further to know the largest contributors of copper in the world.

  1. Chile

Chile is the leading producer of copper in the world. In 2020, Chile’s copper production was established at 5.7 million metric tons that contributed 28.5% to global copper production. Chile’s Escondida remains in the top position in copper production in which open pit operation takes place. According to statistics, Copper production is expected to grow by 3.7% in 2021. 

  1. Peru

In 2020, the country produced 2.2 million tons of copper with mining operations. Cerro Verde and Antamina are the mines in Peru counted among the world’s largest copper producers. Copper production is expected to rise over 10.4% in 2021.

  1. China

China attains the third position in global copper production. The country is the world’s largest copper consumer as well. China mines produced 1.7 million tons in 2020. According to the International Copper Study Group (ICSG), an increase in copper production by 3.5% is expected in 2021. 

Conclusion

Mineral and metal industries are often considered the backbone of the modern world. Copper has great importance in infrastructure, carbon dioxide reduction, and sustainable development. One can easily identify copper products in any material, equipment, or resource. Copper not only benefits the mining companies but provides employment in the local and government sector as well.

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