• 4 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 7 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 10 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 13 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 hours The 5 Scary New Rules Of Upside-Down Capitalism
  • 2 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 1 hour Winter Storms Hitting Continental US
  • 7 hours Hydrogen Hurdles in Japan
  • 22 hours More dumbed down? re Hong Kong Act of Congress
  • 14 hours Conoco next gen test wells Vintage 5 (V5) 20% recovery and say " We can do even better "
  • 13 hours PennEast Appealing Wacky 3rd Circuit Decision to Supreme Court
  • 1 day U.S. Shale Output may Start Dropping Next Year
  • 11 hours Aramco IPO magic trick
  • 23 hours Petroleum Industry Domain Names
  • 16 hours Impeachment S**te
  • 14 hours Contaminated Oil
  • 14 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 1 day Crazy Stories From Round The World
  • 14 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

This Could Be A Major Red Flag For The World’s No.1 Copper Nation

Expansive study on global copper released this past week — from a top authority in the world’s largest producing nation, Chile.

That came from the government-run Chilean Copper Commission (Cochilco). Which put together 15 years of exploration data in Chile and beyond, to look at where major copper discoveries are coming from — and how successful exploration spending in the sector has been of late.

At first glance, that data seems to cement Chile’s place as the world’s premier copper nation. Showing that the country has hosted 30.2 percent of all copper deposits discovered globally between 2000 and 2014.

The study also shows that Chilean companies have a strong track record of discovery. With national copper miner Codelco having found 17 deposits during the study period, while private miner Antofagasta made four discoveries.

But digging deeper into the data, a more-unsettling trend is apparent.

Exploration recently has been coming up empty.

The numbers on Chilean discoveries show that discoveries have been in short supply during the last several years. With a full 94% of discovered resources and reserves being found prior to 2010.

That means it’s now been six and a half years in Chile with very little exploration success. Despite that fact the study notes “investment in exploration has increased significantly” since 2010. Related: The Fuel That May Halt The Electric Car Revolution

The study authors conclude that “exploration results have not been proportional to the increased budget” during the last several years. Suggesting that discoveries are getting more difficult to come by in the increasingly mature terrains of Chile’s copper districts. Not helped by a national mineral licensing system that allows large tracts of land to be held inactive for extended periods.

All of which shows that the world may not be able to rely on its top-producing nation for future copper supply growth. A fact that’s evidenced on the ground by increasing copper exploration and production in other Andean nations like Peru, Ecuador and Colombia.

Watch for what moves the Chilean government and mining industry may make to address this situation. Possibly including state-sponsored regional geophysics for deep targeting — and reforms to mineral licensing that could open locked-up ground for exploration.

Here’s to getting over the hump.

By Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play