Interra Copper Corp C.IMCX

Copper prices hit 3-month high

[MarketMakerss]

With demand hopes, copper prices have hit a three-month high despite persistent supply deficits and risks. (Source: https://www.mining.com/web/copper-price-set-for-monthly-gain-as-optimism-returns-on-china-demand/)

The annual copper demand is expected to increase to 36.6 million tonnes by 2031, due to global electrification, which will result in a gap of approximately 6.5M tonnes at the world's current rate of production. However, this problem is further exacerbated by major copper miners like BHP and Antofagasta experiencing production output slumps and cutting copper output forecasts compounding the industry with dwindling productivity.

Standing out as a high-potential opportunity in this space is Interra Copper (IMCX.c IMIMF), amid fast-tracking production having completed Phase 1 drilling at its Tres Marias Copper Project.

Located on the Chilean Copper Belt which accounts for 28% of the world's copper production per year, IMCX's Tres Marias Project spans an expansive 16,000 hectares and is in close proximity to several of the world's largest mines including BHP Billiton (BHP), Antofagasta Minerals (ANTO), Glencore (GLEN) and Freeport-McMoRan (FCX).

Phase 1 drilling encompassed six RC holes totalling 1,896m and samples have been expedited to ALS Global for analysis with findings expected early this month to provide insight into the extent of the resource.

Playing an indispensable role in global decarbonization efforts, the need for new sources of copper to come online and diversify the supply chain is significant, and IMCX presents a remarkable opportunity to capitalize on the industry.

For more information on the drill program, refer to IMCX's latest news release: https://www.newsfilecorp.com/release/173054

Posted on behalf of Interra Copper Corp