Once seen as a laggard in the global mining industry, U.S. copper deposits have quietly drawn more than $1.1 billion in investments from small and large miners alike as Tesla and other electric carmakers scramble for more of the red metal.
Source: www.reuters.com
Copper demand continues to grow globally due to the booming electric vehicles industry which uses twice as much copper as internal combustion engines. Increasing demand coupled with pro-mining policies has attracted huge investments in copper deposits in the U.S. with four copper projects set to open by next year. These buildouts could boost U.S. copper production by at least 8% in the next four years, according to data from the International Copper Study Group and DBS. Nevada Copper Corp, Taseko Mines Ltd, THEMAC Resources Group Ltd, and Excelsior Mining Corp are among the key companies planning to open copper mines by the end of 2020.
