Mining company plans to list on London Stock Exchange’s main market to tap growing demand for copper
A mining company is considering listing on the main market of the London Stock Exchange in order to tap the booming global demand for copper.
Great Southern Copper (GSC) aims to raise around £ 3.5million initially through its IPO to fund exploration for copper and gold projects in Chile: San Lorenzo and Especularita.
Driving force: Great Southern Copper aims to raise around £ 3.5million initially through its IPO to fund exploration for copper and gold projects in Chile
Both projects are located in the Chilean coastal belt, a relatively unexplored area for copper and gold deposits.
The sites are near the Cortadera and Productora deposits, which contain approximately 2.8 million tonnes of copper and 2.7 million ounces of gold. Chile is the world’s largest producer of copper.
The metal is used in a wide variety of electronic devices as well as heating wiring and pipes. Prices have almost doubled in five years, as its use in renewable energy systems has accelerated demand.
Analysts predict that the increase in the use of electric cars will further increase demand, as each electric car contains about five times as much copper as a standard vehicle.