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Why miners are moving almost 'twice as much material' to produce copper

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Copper prices are heading up due to increased demand from energy transition and declining grades at existing mines, said Nolan Peterson, CEO of World Copper (CVE:WCU).

On Friday Peterson recorded Kitco Roundtable with Kitco correspondent Paul Harris and Mining Audiences Manager Michael McCrae. World Copper is a copper-focused exploration company operating within Chile.

"The average head grade of copper mines worldwide has dropped from about 1.6% to below 1% now," said Peterson. "That's been a steady decline over the last 30 years. [It] doesn't seem like a lot when you think about it, but you're basically moving twice as much material now."

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