OTCPK:COPR - Post by User
Comment by
babymineson Jul 25, 2023 11:23am
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Post# 35555922
RE:try again
RE:try again Global copper reserves are estimated at 870 million tonnes (United States Geological Survey [USGS], 2020), and annual copper demand is 28 million tonnes. Current copper resources are estimated to exceed 5,000 million tonnes (USGS, 2014 & 2017).
According to USGS data, since 1950 there has always been, on average, 40 years of copper reserves and over 200 years of resources left.
supply and demand. cooper is not a scarce commodity. demand can't outstrip supply therefore the price will remain stable or continue to fall. as the price falls fewer mines will be brought online. Idaho Copper can't not compete with economies of scale. 80% of waste rock calculated in the resource. Ore sorting can only be accomblished if the ore is mined and sorted. The cost to produce and process would net a small ROI.