Celebrations may be in order for Great Southern Copper (GSC), which is focused on copper-gold exploration in Chile.
It announced its intention to seek admission of its Ordinary Shares to trading on the main market of the London Stock Exchange. GSC has the option to acquire rights to 100% of two projects that are prospective for large porphyry copper-gold deposits in the underexplored coastal belt of Chile, a globally significant mining jurisdiction and the world’s largest copper producer.
GSC, which is focused on Tier-One assets in Chile’s largest copper producer, seeks to raise £3.5m.
Sam Garrett, the CEO, believes his company has found gold in its exploration of major mining jurisdictions. He stated: “There is an acute shortage of copper. This is getting more acute as the global economy shifts towards green and sustainable energy.
GSC intends to move its large-scale exploration projects in San Lorenzo in Chile and Especularita, Chile. This will take advantage of Chile’s supply shortage and abundant copper, gold and silver deposits.
These sites are located near the Cortadera-Productora copper deposits. They contain approximately 2.8m tonnes and 2.7m ounces respectively of gold. According to the U.S. Geological Survey, Chile is the largest copper producer in the world. Copper ranks third in global consumption with around three quarters of it being used for electrical wiring and telecommunication cables as well as other electronic components that are essential in everyday life.
The global electric vehicle market is growing year on year for the past decade. EVs consume more copper than an internal combustion engine car.
It’s not only within the cars, but also the infrastructure that drives them. Wood Mackenzie predicts that by 2030 there will be more than 20 million EV charging stations worldwide, which will consume 250 percent more copper than in 2019.
Garrett stated, “It’s a great moment to be focused on copper/gold exploration and we are excited about advancing our two large-scale exploration projects in Chile. Chile is a globally significant mining jurisdiction as well as the largest copper producer country in the world.”
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