- Write by:
-
Monday, June 7, 2021 - 14:57:21
-
613 Visit
-
Print
Mining News Pro - BHP has contributed to a $US50 million ($64 million) investment in Jetti Resources, which has developed a new copper extraction technology
The technology allows copper to be extracted from low-grade primary sulphide including chalcopyrite.
Existing Jetti Resources investor Mitsubishi also contributed to the investment along with US-based miner Freeport-McMoRan.
BHP chief technical officer Laura Tyler said the technology will allow the company to meet growing copper demand.
“Jetti’s technology has the potential to unlock new copper production safely, productively and responsibly,” Tyler said.
“To support renewable technologies and decarbonisation goals in limiting global warming to 1.5 degrees we expect global copper demand could double over the next 30 years, compared to the past 30 years.
“Through our BHP Ventures team, we are delighted to invest in and partner with Jetti, and help create opportunities for its innovative technology to progress a greener future.”
Jetti Resources chief executive officer and co-founder Mike Outwin welcomed BHP and Freeport as new supporters for the company.
“Jetti’s financing round has been backed by two of the world’s largest copper mining companies, a leading global copper trader and mine owner, and a premier institutional investment fund and mining private equity group,” he said.
Outwin said the funding will push the company’s technology into more large scale copper mining operations.
“The funds raised will enable Jetti to further deploy its technology across large-scale copper mining operations,” he said.
“We look forward to working with all investors to accelerate the adoption of Jetti’s technology and deliver much needed ‘green copper’ to meet the world’s needs for a low-carbon electrified future.”
Jetti was founded in 2014 and is headquartered in the United States.
It has raised $US100 million for the development of its technology, which can increase copper yields while remaining cost effective and environmentally friendly.
Commodity analyst CRU has found that Jetti’s technology can address 234 million tonnes of contained copper by 2050, which Jetti estimates is worth $US2.4 trillion.
Short Link:
https://www.miningnews.ir/En/News/614606
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
Top copper producer Codelco reported a decline in quarterly output due to lower quality ore at its aging Chilean mines — ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Chile President Gabriel Boric said on Thursday he is targeting an increase in the country’s annual copper output by 1 ...
Brazilian miner Vale SA sees no impact from BHP Group’s bid for Anglo American on the latter’s Minas-Rio project, its ...
Copper miner Antofagasta Plc is holding meetings with investors this week for its first dollar bond offering in nearly ...
No comments have been posted yet ...