A mining firm is planning to list on the London Stock Exchange’s main market to exploit booming global demand for copper.
Great Southern Copper (GSC) aims to raise around £3.5m initially through its IPO to fund the exploration of copper and gold projects in Chile: San Lorenzo and Especularita.
Driving force: Great Southern Copper aims to raise around £3.5m initially through its IPO to fund the exploration of 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 around 2.8m tonnes of copper and 2.7m ounces of gold. Chile is the world’s largest copper producer.
The metal is used in a wide array of electronics as well as in wiring and heating pipes. Prices have almost doubled in five years as its use in renewable energy systems has accelerated demand.
Analysts predict that the rise in electric car usage will boost demand further, because each electric car contains around five times as much copper as a standard vehicle.
