NorthWest Copper exploring two other mining operations in area close to Takla Landing
The demand for copper continues to increase as the world attempts to ditch its dependence on fossil fuels in favour of renewable electric energy sources.
Based on historic drilling samples obtained from 1949-2009, the Lorraine Project 50 km northeast of Takla Landing has revealed significant mineralization in shallow surface deposits. NorthWest plans to expand its drilling operations this summer to determine the feasibility of combining Lorraine with its other operations, 40 km to the south, to develop a permanent mine.
“In this case, because we have these other projects in our portfolio, we end up with enough scale to make it viable. And because the rock is very rich, once you get an operation up and going, it’s likely to be profitable.” Another plus is there is a skilled workforce already employed at existing mines in the vicinity, such as Mount Milligan, which could help speed development of the project. NorthWest Copper already has close to 100 drillers, surveyors and geologists who started drilling at Kwanika on March 25.
The UN Forecast Policy Scenario predicts a substantial increase in electricity generation from renewable sources – hydro, wind and solar – which will also increase the demand for copper. Renewables are expected to become the largest global source of power and by 2050, providing 73 per cent of the world’s electricity, up from 25 per cent in 2020.
Chile and Peru are the two largest copper producers but political unrest in both countries is putting pressure on mining producers. B.C. produces 54 per cent of Canada’s copper and has more than 80 percent of the country’s copper reserves.