Copper Demand Set to Soar 70% by 2050: Can Supply Keep Up?
According to BHP, Global copper demand is projected to rise by 22.1 million metric tons (Mt) by 2050, a 70% increase. Meeting this surge would require 16.37 new mines the size of Escondida, the world’s largest copper mine, operating at full capacity, yet large discoveries are becoming increasingly rare.
Compounding the challenge, the average lead time for new mines has reached 17.9 years due to extended exploration, permitting, and financing phases. This combination of rising demand, declining discoveries, and long development timelines highlights the need for significant innovation and investment to address the looming supply gap. (Source: https://www.miningvisuals.com/post/copper-demand-in-2050)
In advancing its flagship Mocoa Copper-Molybdenum project in Colombia, Libero Copper (LBC.v, LBCMF) is strategically positioned to address the growing global copper demand with a current resource of 4 billion pounds of copper.
Notably, LBC's ongoing 14,000-meter drill program aims to expand the Mocoa deposit significantly while exploring new targets that could dramatically increase its size. This effort marks a 50% increase in drilling compared to previous campaigns, demonstrating LBC's commitment to unlocking Mocoa’s full potential as a world-class copper asset.
Amid rising copper demand fueled by global infrastructure growth and supply deficits, Mocoa’s scalability makes it a standout project. Backed by rapid assay turnarounds and led by a team with significant expertise, including the support of industry veteran Frank Giustra, Libero is well-positioned to deliver consistent results. As the program progresses, Mocoa could become a key asset for major players seeking to secure copper supplies, helping to bridge the looming supply gap in the face of increasing global demand.
For more information, refer to this deep dive: https://www.reddit.com/r/wallstreetsmallcaps/comments/1gzxld6/libero_coppers_lbcv_or_lbcmf_mocoa_project_marks/
Posted on Behalf of Libero Copper and Gold Corp.