Demand for Copper is set to Increase as Electric Vehicles Market Expands

NEW YORK, May 15, 2018 /PRNewswire/ --

According to a research by Freedonia Group, the Global demand for copper metal is projected to advance 4.2 percent per year through 2019 to 36.0 million metric tons or valued at $261 billion. The International Copper Association (ICA) describes copper as an extremely versatile metal with a long history of making the world work better, with electrical and thermal conductivity to its antimicrobial properties. One tonne of copper brings functionality to 40 cars, powers 60,000 mobile phones, enables operations in 400 computers, and distributes electricity to 30 homes. The demand for copper is also tied to the rising acceptance of electric vehicles (EVs) across the world. European Electric Metals Inc. (OTC: EVXXF), General Moly, Inc. (NYSE: GMO), Taseko Mines Limited (NYSE: TGB), Freeport-McMoRan Inc. (NYSE: FCX), Ivanhoe Mines Ltd. (OTC: IVPAF)

Data provided by Martec Group projects that nearly 95 percent of the automotive wire harness will remain copper in 2020. According to Martec, "Electric and hybrid vehicles require more copper use due to higher power/voltage requirements necessary for that category. The study reveals overall global vehicle production is expected to increase from about 92,500,000 total vehicles in 2016 to almost 102,000,000 by 2020... A wire harness is the set of wires, terminals and connectors running throughout the entire vehicle. It relays information and electric power to keep the vehicle's components communicating with each other. The wire harness plays a critical role in a vehicle's overall operation and reliability. Copper is widely used and highly regarded in the automotive market due to its high conductivity, ductility and reliability in transmitting electrical information from one system to another."

European Electric Metals Inc. (OTC: EVXXF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: EVX). Yesterday the company reported breaking news, "that Phase One Drilling is complete and core from the final four holes drilled during this initial phase at the Rehova Copper Project have been sent to the ALS laboratory in Bor, Serbia for preparation and analysis.

With Phase 1 drilling finished, pending drill results and in preparation for future drilling, EVX geologists are now conducting geological mapping in the Rehova project area, with a particular emphasis on the contact between the ultrabasic rocks and the volcanics to the east. The ultrabasic rocks are considered to be the base of mineralization while the volcanic rocks (basaltic flows, agglomerates) and gabbro hosts the mineralization in Rehova. A more accurate mapping is critical in targeting mineralization at Rehova to east where the eastern most historic hole that intersected mineralization is approximately 200m to the east of the historic interpreted contacts.

The final hole drilling during EVX Phase One intersected basalt and gabbro to the end of the hole raising the possibility of an eastern extension of mineralization not only in the BG historical deposit but also southward to DT deposit (see map on the Company's website). In addition to mapping within Rehova license area, the Company geologists will also conduct reconnaissance to check reported mineralization on several additional prospects in the district.

Initial drill results reported by EVX (see EVX News Release, European Electric Metals Intersects High Grade Copper Near Surface, dated May 2, 2018) included drill hole REH-05A in the Kanisqel west pit, which intersected 10 meters of 3.96% Cu from 51.2 meters depth and drill hole 128A drilled on the eastern edge of the BG deposit which encountered 11.5 meters of mineralization averaging 1.67% Cu from 98 meters (true widths).

Rehova is located 115 kilometers southeast of Tirana (200 km by road) and is on the electrical power grid. The property encompasses four historical volcanogenic massive sulphide deposits. These are surrounded by exploration areas of interest that have not yet been systematically tested using modern exploration techniques and technology. The four known deposits, called BG, Kanisqel, Ciflig and DT, comprise the Rehova copper mine complex, a historically producing mining operation which was operated by the Albanian state copper enterprise."

General Moly, Inc. (NYSE: GMO) has two world-class projects in mining-friendly Nevada, U.S.A.: the flagship Mt. Hope molybdenum project (80% interest) and the wholly-owned Liberty molybdenum-copper project. On April 5, 2018, the company announced it received a Titan Direct Current and Induced Polarization "DCIP" survey report to assist in the evaluation of potential high-grade, copper-silver exploration target zone ("Cu-Ag Target") immediately adjacent to the Mt. Hope molybdenum deposit in central Nevada. The high-intensity, ground-based, IP survey, including 2D and 3D inversions of acquired DCIP field data, was completed in February 2018 by Quantec Geoscience. The final IP survey report includes 2D and 3D IP inversions that identify resistivity and chargeability anomalies with enhanced accuracy within several hundred feet of the surface. Interpretive evaluation of the 3D IP sections with available historic drill results should improve follow-up drill targeting.

Taseko Mines Limited (NYSE: TGB) is a mining company focused on the operation and development of mines in North America. Headquartered in Vancouver, Canada, Taseko is the owner (75%) and operator of the Gibraltar Mine, the second largest open pit copper-molybdenum mine in Canada. Taseko's Aley Niobium Project, Florence Copper Project, and New Prosperity Gold-Copper Project are all advanced staged projects which provide the company with a diverse commodity pipeline. Earlier this month, the company reports the results for the three months ended March 31, 2018. Copper and molybdenum production in the first quarter was 22.9 million pounds and 0.4 million pounds, respectively, a decrease from previous quarters as a result of the anticipated lower grade mine feed combined with the increased use of lower grade ore stockpiles, a consequence of the summer wildfires. Total sales (100% basis) for the quarter were 22.8 million pounds of copper and 0.4 million pounds of molybdenum and the company's cash balance at March 31, 2018 was $64 million, reduced from $80 million at the end of 2017 due in part to cash used for construction of the Florence Copper PTF.

Freeport-McMoRan Inc. (NYSE: FCX) is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is the world's largest publicly traded copper producer. On April 24, 2018, the company reports First-Quarter March 31, 2018 results. The company reported net income attributable to common stock of $692 million ($0.47 per share) for first-quarter 2018, compared with $228 million ($0.16 per share) for first-quarter 2017. Consolidated sales for the year 2018 are expected to approximate 3.8 billion pounds of copper, 2.4 million ounces of gold and 95 million pounds of molybdenum, including 970 million pounds of copper, 700 thousand ounces of gold and 24 million pounds of molybdenum for second-quarter 2018.

Ivanhoe Mines Ltd. (OTCQX: IVPAF) is advancing its three principal projects in Southern Africa: Mine development at the Platreef platinum-palladium-nickel-copper-gold discovery on the Northern Limb of South Africa's Bushveld Complex; mine development and exploration at the Kamoa-Kakula copper discovery on the Central African Copperbelt in the Democratic Republic of Congo (DRC) and upgrading at the historic, high-grade Kipushi zinc-copper-lead-germanium mine, also on the DRC's Copperbelt. Recently, the company announced that a new agreement will provide local, treated water to supply most of the bulk water needed for the first phase of production at the Platreef platinum-group metals, nickel, copper and gold mine now being constructed in South Africa. Ivanhoe's 64%-owned subsidiary, Ivanplats, signed a memorandum of agreement on May 3, 2018, with the Mogalakwena Local Municipality for the supply of a minimum of five million litres of treated water a day for 32 years, beginning in 2022, from the town of Mokopane's new Masodi Treatment Works.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For European Electric Metals Inc. financial news dissemination and PR services, FinancialBuzz.com expects to be compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

For further information:
[email protected]
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com