MOSCOW: The United States plans to open its first major copper mine in more than a decade, which will allow the country to launch sales of copper cathode by the end of 2028, reported Sputnik/RIA Novosti quoted The Wall Street Journal newspaper, citing sources.
If all goes according to plan, Ivanhoe Electric will begin construction of its Santa Cruz mine early next year in Arizona, the report said on Monday.
The report noted that the mine is in a prime location: it is located on a highway, along a rapidly developing industrial corridor between the cities of Phoenix and Tucson, which could be beneficial for investors.
In addition, the site is located among arable land, factories and desert at the intersection of highways, railroads, power lines and gas pipelines, that is, far from public lands, unlike several other American mining enterprises, the newspaper reported.
The mine reportedly uses technology that allows separating oxide copper ore from other rocks during the metal mining process. Thus, the company will be able to obtain clean cathodes without sending products from the mine to the smelter, the report added.
US President Donald Trump announced on Wednesday that the US would impose a 50 per cent tariff on copper starting August 1 to strengthen national security. Copper is used in a variety of products, from chips and lithium-ion batteries to ships and ammunition. – BERNAMA-SPUTNIK/RIA NOVOSTI
