Analysts at Wood Mackenzie are warning that efforts to reduce reliance on China's copper supply could severely hinder global energy transition goals, as removing China from the supply chain would create an $85 billion gap that Western economies would struggle to fill.
With copper demand expected to rise by 75% by 2050, China currently dominates the global copper market, controlling nearly all smelting and refining capacity. Meeting energy transition targets without China would be costly and slow, making a complete decoupling from China unfeasible. (Source: https://www.mining.com/diversification-from-china-leaves-85bn-gap-in-copper-supply-chain-warns-woodmac/)
“With our fully funded drilling program and the promising targets identified, we are confident that the upcoming months will bring significant progress and value creation for our shareholders.”
With the commencement of the fully funded Phase 2, 16,500m drill program, Abitibi Metals (AMQ.c AMQFF) has marked a significant step forward in the development of the B26 Polymetallic Copper Deposit.
Amid a dynamic copper market, AMQ's B26 stands to combat the supply deficit as it boasts an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% CuEq.
Aiming to expand the historical base, this phase of drilling is crucial for AMQ as they are well-positioned to not only enhance the open-pit and underground potential but also to identify new, high-priority targets that could significantly increase the value of the B26 Property.
For more information, refer to AMQ's latest news release: https://abitibimetals.com/abitibi-metals-commences-phase-2-drilling-at-b26-deposit/
Posted on Behalf of Abitibi Metals Corp.