On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Josemaria Resources Inc. (TSX: JOSE) (OTC: JOSMF) Rapidly Developing New Copper-Gold Project in Argentina as Copper Demand Projected to Rise

  • Industry report suggests demand for copper will increase nine-fold due in part to increased production of Electric Vehicles
  • S&P analysts predict copper shortages in coming years
  • Josemaria is one of world’s few readily developable copper-gold projects
  • Recent feasibility study concluded that Josemaria is robust, low-risk project with significant yield potential

As one industry report suggests that the increased production of electric vehicles (“EVs”) will send copper demand up nine-fold (https://nnw.fm/sK1uh), S&P analysts predict a looming copper deficit in the coming years (https://nnw.fm/adkev). While market forces continue to exert upward pressure on the price of copper, Josemaria Resources (TSX: JOSE) (OTCQB: JOSMF), a Canadian natural resources company based in Vancouver, British Columbia, continues to focus on its Argentine project – one of the few readily developable copper-gold projects in the world.

Copper has been used to conduct electricity since the invention of the electromagnet in the 1800s and is integral to the production and operation of EVs. A single car can contain up to 6 kilometers of copper wiring along with a substantial amount of copper in its windings, rotors and battery

As government mandates and subsidies continue to ramp up demand for EVs on a global scale, the demand for copper seems likely to increase in kind.

“Demand for electric vehicles is forecast to increase significantly over the next ten years as technology improves, the price gap with petrol cars is closed and more electric chargers are deployed,” noted IDTechEx Senior Technology Analyst Franco Gonzalez. “Our research predicts this increase will raise copper demand for electric cars and buses from 185,000 tonnes in 2017 to 1.74 million tonnes in 2027.”

Despite this increase in demand, the market for copper may not respond accordingly due to severe shortages, suggests a report by S&P Global Market Intelligence. “Beyond 2020, we forecast that consumption will outstrip production over the period to 2024, resulting in a growing refined market deficit and increasing copper prices,” said S&P Global Market Intelligence commodity analyst Thomas Rutland. “Refined production output will be hindered during this period by slowing mine production growth rates unless there is significant investment in the copper project pipeline.”

In line with expected market demand, Josemaria Resources is working rapidly to develop its flagship Josemaria Copper-Gold Project, located in the San Juan Province of Argentina. The company recently announced the results of an independent feasibility study that concluded that the property is a “robust, rapid pay-back, low-risk project” with the potential to yield an average annual metal production of 136,000 tonnes of copper, 231,000 ounces of gold and 1,164,000 ounces of silver (https://nnw.fm/JJyKO).

“We are extremely pleased with the results of the Feasibility Study at Josemaria, which indicates that this is one of the very few readily developable copper-gold projects in the world today,” said Josemaria Resources President and CEO Adam Lundin. “We believe that Josemaria is perfectly positioned to commence production by mid-decade, meeting rising copper demand from a rapidly electrifying global economy.”

Josemaria Resources is a Canadian natural resources company based in Vancouver, British Columbia. The company is part of the Lundin Group of companies, a conglomerate of 13 business entities operating in the mining, oil and gas and renewables sectors around the world.

For more information, visit the company’s website at www.JosemariaResources.com.

NOTE TO INVESTORS: The latest news and updates relating to JOSMF are available in the company’s newsroom at https://nnw.fm/JOSMF

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 40+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire is part of the InvestorBrandNetwork

Archives

Select A Month

NetworkNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.418.1217