Canada’s demands for commodities needed in clean energy technologies have been increasing. Since these commodities are vital for solar cell production, high-density batteries, and wind turbines, the country has become a key producer of copper, nickel, and cobalt. According to some resources, Canadian-based mining companies possess $271.6 billion of total mining and exploration assets. $174.4 million in assets was found in 100 foreign countries, including the U.S., Chile, Mexico, China, Peru, and Argentina. Let’s study more about copper and its mining operations in Canada by different copper companies.
Canadian Copper Companies
Most copper exploring companies source copper as a co-product along with other metals like zinc, lead, molybdenum, or nickel. Usually, they find copper in large sulfide and porphyry deposits. Some of the thriving Canadian copper companies include Solaris Resources, Three Valley Copper, First Quantum Minerals, Lundin Mining Company, Copper Mountain Mining Operations, HudBay Minerals, and many more.
Solaris Resources is a Canadian mining company that focuses on copper and gold mining operations. It is beginning to involve drilling at the Warintza project and continues to report positive assay results.
What Is The Main Objective Of Canadian Mining Companies?
Since minerals and metals are a necessary part of Canadians’ lives every day, many Canadians across the country are utilizing their abilities, knowledge, and entrepreneurship to escalate their mining industry among the world’s largest producers of minerals and metals. About 200 mines and 7000 quarries have produced more than 60 metals and minerals worth $401 billion. Following are the modern innovations aimed by Canadian Mining companies:
- Benefits from the discovery and extraction of new deposits.
- Extending the survival of existing mines.
- Turning previously uneconomical sites into viable opportunities.
Types Of Mining Companies
Senior and junior companies are two types of companies that work in mineral operations. The former one derives recurring working revenues from mining or other businesses. The senior companies are not primarily mining companies, and they are more into bringing mines to production. In comparison, the later ones don’t have a working mine and no revenue generated internally. They depend on the equity market to increase the necessary capital and mostly specialize in early-stage exploration activities.
In addition, junior companies are crucial in the advancement of mineral projects in Canada. They invested around $867 million in exploration activities. The top junior stock list includes CopAur Minerals, Emerita Resources, Filo Mining, and Foran Mining.
Issues With Assurance
All mines will end at some point regardless of their existence, length or production. The troubles arise when the mining companies go bankrupt or are no longer operational. Therefore, all mining companies must prepare financial assurance and mine closure plans for the Ministry under the Mining Act. And, the mining company is responsible for the long-term maintenance (remediation of any environmental issue) for the site after closure.
Conclusion
The Canadian copper companies are mainly looking to the future by exploring new sources of minerals that are essentially required in the coming years. They are creating a new image of mining and improving the environmental footprint at the same time. They have these assets at their homeland and in more than ten overseas across six continents.