Jetti Resources Could Uncover Millions of Tonnes of Copper
70% of the world’s copper resources are estimated to be worth more than $20 trillion, from a particular type of copper ore, sulfide ores.
However, the majority of this ore is too low-grade to actually become copper for the market. But a new technology could change this and give new life to old copper mines.
Colorado-based Jetti Resources has developed a process to unlock this value. The method the company has developed can extract copper from mine waste and lower grade copper ore trapped in sulphide ore usually discarded as waste.
Capstone Mining (TSX: CS) is the first company to test Jetti’s technology at its Pinto Valley open-pit copper mine in Arizona. Capstone first deployed the catalytic technology in mid-2019 to improve copper recovery.
Last year, the Capstone doubled its copper cathode production, since the technology was implemented at the mine’s solvent extraction and electrowinning processing (SX-EW) plant.
Mitsubishi has financed Jetti since 2019 and holds an undisclosed stake in the company. Earlier this month it increased its ownership in the company with a US$50 million investment, alongside other investors such as BHP Ventures, Freeport-McMoRan (NYSE: FCX), and Orion Resources Partners.
Following the round of financing, Jetti has now raised more than US$100 million for the development and deployment of the technology and added industry leaders to its board.
Last year Jetti bolstered its board and management team, with Chip Goodyear, the former CEO of BHP (NYSE: BHP; LSE: BH; ASX: BHP), and Trevor Reid, the former CFO of Anglo-Swiss mining company Xstrata, which was acquired by Glencore (LSE: GLEN) in 2013.
Prospector Portal has 1256 copper technical reports.
Click Here to Read the News
|
