Going for gold (and copper): Great Southern Copper plots £3.5m London IPO
Copper-gold exploration company Great Southern Copper (GSC) has told Morning Wire it is targeting a listing on London’s main market in the coming weeks, as it capitalises on copper’s central role in the growing electric vehicle (EV) market.
GSC, which focuses on tier-one assets in the largest copper producer in the world, Chile, is seeking to raise £3.5m and post money circa £10m.
Believing his company has struck gold with its exploration of the major mining jurisdiction, CEO Sam Garrett said: “There is a significant shortfall in the supply of copper, which is becoming more acute with demand increasing as the global economy moves towards green, sustainable energy.
“Copper exploration and extraction will be vital in achieving a low carbon future, which presents an excellent opportunity for a new generation of copper deposits to help mitigate the looming supply deficit.”
GSC plans to advance its two large scale exploration projects in San Lorenzo and Especularita in Chile, taking advantage of the supply deficit and Chile’s bountiful deposits of copper, gold, silver and molybdenum.
According to the latest U.S. Geological Survey (USGS), copper is the third most consumed metal in the world, with approximately three-quarters of that going into the electrical wiring, telecommunication cables and other electronics inside daily use items.
Meanwhile, the global electric vehicle market has continued to increase year-on-year over the past decade, and EVs use more than double the copper of an internal combustion engine automobile.
And it’s not just within the cars themselves but the infrastructure that powers them. Wood Mackenzie estimates that there will be over 20m EV charging points globally by 2030, consuming 250 per cent more copper than in 2019.
“It is a great time to be focused on copper-gold exploration and we are excited to advance our two large scale exploration projects in Chile, a globally significant mining jurisdiction and the largest copper producing country in the world,” said Garrett.