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Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
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Researched by Industrial Info Resources (Sugar Land, Texas)--Copper's superior electrical and thermal conductivity is the foundation of energy efficiency. The metal is the most efficient non-precious conductor of heat and electricity. Seventy percent of copper goes to end-use applications that benefit from its high level of efficiency. It drastically reduces the amount of energy needed to power appliances, which helps conserve natural resources.
Renewable energy requires four to six times more copper than fossil energy. The International Energy Agency (IEA) has projected that copper demand in the world will double by 2040.
In Pakistan, the Reko Diq Copper-Gold Mine is one of the world's largest undeveloped projects, containing 12.3 million tons of copper and 20.9 million ounces of gold in inferred and indicated resources. Barrick Gold Corporation (NYSE:GOLD) (Toronto, Canada) owns half of the project. The remining half is owned by three federal state-owned enterprises and the Province of Balochistan.
Due to legal issues, however, the Reko Diq copper deposits lie unutilized. An international tribunal called for Pakistan to pay US$5.6 billion in damages to the original developers of the mine project.
Background negotiations are ongoing to revive the project. Barrick Gold is now targeting 2028 for the first production from the giant copper-gold mine. The company now plans to finish the Reko Diq feasibility study update by 2024 and aims for the first production by the end of 2027. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals project and plant databases can click here for a detailed project report and click here for the related plant profile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
Renewable energy requires four to six times more copper than fossil energy. The International Energy Agency (IEA) has projected that copper demand in the world will double by 2040.
In Pakistan, the Reko Diq Copper-Gold Mine is one of the world's largest undeveloped projects, containing 12.3 million tons of copper and 20.9 million ounces of gold in inferred and indicated resources. Barrick Gold Corporation (NYSE:GOLD) (Toronto, Canada) owns half of the project. The remining half is owned by three federal state-owned enterprises and the Province of Balochistan.
Due to legal issues, however, the Reko Diq copper deposits lie unutilized. An international tribunal called for Pakistan to pay US$5.6 billion in damages to the original developers of the mine project.
Background negotiations are ongoing to revive the project. Barrick Gold is now targeting 2028 for the first production from the giant copper-gold mine. The company now plans to finish the Reko Diq feasibility study update by 2024 and aims for the first production by the end of 2027. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals project and plant databases can click here for a detailed project report and click here for the related plant profile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
