Southern Hemisphere Mining Limited notes recent news reports surrounding the looming copper shortage in achieving net zero targets around the world.
The Company has a large and growing flagship Copper Project at Llahuin in Central Chile.
From OilandGas360.com (31 October 2022)
“There is going to be a very significant shortage in copper,” Richard Adkerson, chairman and CEO at U.S. copper producer Freeport-McMoRan, the world’s largest listed copper miner, told the Financial Times.
According to a new report from Wood Mackenzie, the world will need 9.7 Mt of mine supply over the next decade from projects that have yet to be sanctioned, if it is to meet zero-carbon targets.
“To date, a shortfall of this magnitude has never been overcome within a decade,” WoodMac’s copper researchers and analysts said.
The Wood Mackenzie report titled ‘Copper’s critical role in achieving net zero‘ was released in October 2022 and it highlighted the need for the world to find new copper supplies.
Southern Hemisphere Mining’s flagship project at Llahuin has deposits hosting over 680kt CuEq in Central Chile. In September 2022, the Company’s team of Geologists conducted a re-interpretation of the geological system and identified a large porphyry/breccia system host at Llahuin.
New geological work and drilling on this enormous project over the last 2 years has re-interpreted the whole geological model showing such huge scale potential both open pit-able from surface as well as deep higher grade Copper.
The road to zero carbon will see an extraordinary build-out of low-carbon electric vehicles (EVs) and renewable power-generating capacity. And as the world reduces its dependence on hydrocarbons, metals will be a linchpin of a zero-carbon economy.
Copper – in the form of wire, cable and foil – will bind and connect the batteries, motors and electrical networks that will help limit the rise in global temperatures. However, the pull on the world’s resources to achieve this structural change will be transformational, dwarfing the demand increases we have seen over the past 30 years.
To meet zero-carbon targets, the mining industry would have to deliver new projects at a frequency and consistent level of financing never previously accomplished. This pathway would result in:
> The need for 9.7 Mt of mine supply over the next decade from projects that have yet to be sanctioned. To date, a shortfall of this magnitude has never been overcome within a decade. This supply gap contrasts with 6.5 Mt under our base-case climate trajectory.
Enter the Llahuin Copper-Gold-Moly Project.
Southern Hemisphere Mining’s Llahuin Re-interpretation Highlights – View Full PDF from October 2022 –
- The Llahuin Copper/Gold/Moly deposits hosts over 680kt CuEq in Central Chile. The Company’s team of Geologists have identified a large porphyry/breccia system host at Llahuin from re-interpretation of the geological system following results and logging of recent DDH in conjunction with re-logging historic diamond core.
- This substantial porphyry/breccia system is evident across the whole Central Porphyry deposit which recent diamond drilling suggests may continue across the other two deposits Cerro and Ferro.
- Although a significant process given over 20km of historic diamond core to re-log, this is considered a positive for the project, and will add to the ability to scale up on open pit and deeper underground targets to materially add to its copper/gold endowment.
- A best result of 440m at 0.75% CuEq (Inc 208m at 1.2% CuEq from 2m depth) was intersected in drillhole DDLLA021 at the central deposit.
- Rockchips at the Company’s nearby Colina2 Project show many high grade copper oxide targets with a best result of 3.04% Cu (3.88% CuEq) and 92g/t Ag in the northwest of the project area.
- Llahuin and Colina2 sit within the newly recognised NW metallogenic domain which also hosts the giant Los Pelambres Copper Mine.
News Release
Date: 2 November 2022 | ASX Code: SUH
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Southern Hemisphere Mining Limited is an experienced minerals explorer in Chile, South America. Chile is the world’s leading copper producing country and one of the most prospective regions of the world for major new copper discoveries. The Company’s projects include the Llahuin Porphyry Copper-Gold-Moly Project, the adjacent Colina 2 Gold Project, and the Los Pumas Manganese EV Battery Project, all of which were discovered by the Company.
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