What's Happening?
Coda Minerals has developed a process to significantly improve copper recovery rates from 55% to 95%. This breakthrough, achieved through an ammonium chloride whole ore leaching process, could address the global supply-demand imbalance in the copper market. Copper is a critical component in various technologies, including electric vehicles and renewable energy systems. The International Energy Agency predicts that copper demand could more than double by 2040 due to the clean energy transition.
Why It's Important?
The breakthrough by Coda Minerals could have significant implications for the copper industry, particularly in meeting the increasing demand driven by electrification and renewable energy initiatives. By improving recovery rates, the process could reduce costs and increase efficiency for mining operations, benefiting both established companies and startups. This development could also help stabilize copper prices, which have been rising due to supply constraints.
What's Next?
Coda Minerals plans to move forward with its pre-feasibility study phase at the Elizabeth Creek Copper Project in South Australia. The success of this project could pave the way for broader adoption of the new recovery process across the industry. Stakeholders will be watching closely to see how this innovation impacts the market and whether it can be replicated at scale.
