'We have 8 years to replace the 10 largest mines in the world' - Libero Copper
Libero Copper made a splash when it announced an intercept at its Mocoa project of 251 metres grading 1.13% copper equivalent with assays returned for only the first 450 metres of 1,235 metre hole.
Libero Copper CEO Ian Harris spoke to Kitco last week about the copper-molybdenum project located in Colombia.
"It's a big project. It's only in the beginning. We might be just looking at the the foot of an elephant," said Harris.
Libero Copper (CVE:LBC) holds a collection of porphyry copper deposits in the Americas in prolific but stable jurisdictions. Outside of Mocoa, Libero's portfolio includes Big Red, a new greenfield porphyry copper discovery, and Big Bulk. Both are in the Golden Triangle, Canada. And in Argentina Libero has Esperanza, a porphyry copper-gold discovery in San Juan.
The company’s focus on environmental social governance will be key to unlocking the project's value.
Harris likes the focus on copper, what Goldman Sachs calls the new oil.
"I'm a mining engineer. I've been working for 25 years, but it didn't register with me when you see conservatively 4 million tonnes of copper needed by 2030. Some say 8 million tonnes of copper is needed by 2030. The 10 largest mines in the world produce 6 million tonnes, so we have 8 years to replace the 10 largest mines in the world. We've got a lot of work to do."