A mining company has achieved a stunning breakthrough that could improve recovery rates of copper — a finite resource that makes modern life possible.
As Crux Investor detailed, Coda Minerals developed a process to increase metallurgical recovery rates from 55% to 95%, sparking optimism that the global copper market will be better equipped to meet the supply-demand imbalance fueled by the electrification trend.
An incredibly efficient conduit, copper is used in everything from electrical wires to electronics to electric vehicle batteries to renewable energy systems such as solar panels.
The International Energy Agency estimates the clean energy transition could more than double copper demand by 2040 compared to 2023 levels as the world works to eliminate toxic dirty fuel pollution linked to millions of annual premature deaths and the dangerously warming climate.
However, copper prices are on the rise. According to Crux Investor, copper's price appreciation has surpassed typical cost inflation, leaping in value from $8,000 per ton to over $10,000 per ton. This cost can be a hindrance to companies just getting off the ground. Moreover, when manufacturers spend more on the back end, consumers end up paying more for their products.
Coda Minerals CEO Chris Stevens believes the breakthrough — which used an ammonium chloride whole ore leaching process — could provide a boost to smaller-scale startup operations, helping them generate cash flow more readily while reducing the capital requirements needed for a successful launch.
"We finally cracked it. So we've got 95%-plus recoveries from ammonium chloride leach, which is commonly used in Australia [and] around the world in copper, and nickel as well. And so this is really exciting news. It's a pathway to some really interesting next steps as well," Stevens said, referring to the development as creating "effectively free money."
Based in Australia, Coda Minerals owns the Elizabeth Creek Copper Project in South Australia, and its next steps include moving through its pre-feasibility study phase at the site.
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