Marimaca Copper (TSX: MARI) is a copper exploration company focused on exploring and developing new sources of copper to supply an increasing global demand for this essential commodity. With a lack of new copper exploration discoveries globally, the Marimaca resource is a high-profile development project, due to its location in the coastal belt at low elevation, close to Antofagasta and Mejillones
Its flagship project is the Chilean asset Marimaca in Chile’s Antofagasta Region, which has the potential to become one of the most significant copper‐oxide discoveries in recent years. Not only is the size of the resource potentially substantial, but the location is world class with nearby existing infrastructure all in place including roads, powerlines, ports, a sulphuric acid plant, and a skilled workforce.
Whilst the copper price has been volatile in recent times, the longer term supply/ demand for the commodity suggests that the price is due to rise, with a dearth in high quality copper projects globally.
Antofagasta (LSE: ANTO)
Chilean copper producer
Phoenix Copper (LSE: PXC)
North American base metals exploration
Greenstone Resources LLP – 24.9%
Tembo Capital – 16.5%
SP Angel Note (May 2020)
The International Copper Study Group (ICSG) has cut its 2020 global mined copper forecast by 950,000 tonnes – equivalent to nearly 4 million tonnes of copper concentrates output, as a result of Covid-19. The ICSG now expects a 3% yoy decline in world mined copper output this year… with output in major copper producing countries varying on a case by case basis.
Mining Journal (May 2020): “Coro becomes Marimaca Copper in ‘transformational year.”
“Coro Mining has changed its name to Marimaca Copper to align with its flagship development project in Chile as part of an ongoing corporate restructure following the appointment earlier this year of Michael Haworth, co-founder of the company’s largest shareholder Greenstone Resources (24.9%), as executive chairman.”