Majuba Hill Copper Corp (CSE:JUBA) has welcomed the official addition of copper to the US Department of Energy (DoE)’s list of critical raw materials as it advances its flagship copper porphyry project in Nevada.
In a statement, Majuba Hill said the DoE's finalized Critical Materials Assessment for 2023 included copper for the first time, adding the US to countries including Canada, Japan, India, the European Union, and China that also consider it a critical material. The assessment evaluates materials based on whether they “serve an essential function” in the production of energy transition technologies such as electric vehicles (EVs), including supply chain security.
The company noted that the inclusion will help it attract investment in its Majuba Hill project.
"The vital role of copper and the significance of its inclusion in the Critical Materials Assessment, especially in the context of supply chain security for clean energy technologies is a testament to the promising potential and significance of Majuba Hill for copper mining,” Majuba Hill CEO David Greenway said.
“Majuba Hill's commitment to enhancing copper supplies becomes even more critical considering the forecasted copper deficit from 2026 onward.”
Majuba Hill mineral expansion plans
Meanwhile, the company noted that the copper block model at Majuba Hill has revealed significant northeast-southwest corridors associated with both intermediate (0.05 to 0.5%) and high-grade (greater than 0.5%) copper mineralization.
Copper mineralization remains open in all directions. Recent geologic mapping to the west and southwest of Conceptual Pits 13, 42, and 56 have been very successful in delineating prominent northeast and northwest-trending zones, it added.
The company said its geologists have determined locations for 15 to 20 core and reverse circulation holes for several reasons including to tighten up drill spacing to convert waste blocks to mineralized blocks and to extend high-grade mineralization.
Contact the author at stephen.gunnion@proactiveinvestors.com