NEW YORK, May 24, 2018 /PRNewswire/ — According to data by Transparency Market Research the global copper project market expects to reach US$ 171.96 Bn by 2023. Plus can you say expanding at 4.9%. First off, Copper is a soft metal with excellent ductile and malleable properties. Second, It has high electrical and thermal conductivity. Third, Copper is extensively in various industrial application. That is Due to its conductivity and antibacterial properties. Therefore, it has malleability and ease of usage in machines during the fabrication process facilitates high production rate. Mostly important, at relatively lower cost than its substitutes. Furthermore important, demand is also tied to the growing popularity of electric vehicles (EVs) around the world.
It’s rechargeable batteries plus rotors used in electric motors. So we are talking, European Electric Metals Inc. (OTC: EVXXF), Hudbay Minerals Inc. (NYSE: HBM), Tahoe Resources Inc. (NYSE: TAHO), Amerigo Resources Ltd. (OTC: ARREF), Excelsior Mining Corp. (OTC: EXMGF)
According to data published, global electric vehicles battery market estimated to reach $93.94 billion by 2026. In a Reuters, IDTechEx Senior Technology Analyst Franco Gonzalez said, “.. this increase will raise copper project demand for electric cars and buses. from 185,000 tonnes in 2017 to 1.74 million tonnes in 2027.”
Excelsior Mining Corp. (OTCQX: EXMGF) is developing the Gunnison Project, a low-cost in-situ recovery copper project located within the copper porphyry belt of Arizona. The Gunnison Copper Project consists of 9,560 acres located 65 miles southeast of Tucson Arizona within the copper porphyry belt. The towns of Benson and Wilcox located nearby and can give skilled labour for the Gunnison Copper Project. The property is ideally located with access to electrical power on the property, previously developed infrastructure, and supported by an abundant water supply. Recently, the company announced that it remains on-track to become the next new copper producer in the United States. The Environmental Protection Agency (‘EPA”) expected to grant an Underground Injection Control (UIC) let the end of the second quarter; this is the last permit required before starting production.