USA News Group News Commentary 

Issued on behalf of Usha Resources Ltd.

VANCOUVER, BC, Dec. 4, 2024 /PRNewswire/ -- Energy Metals News – The global shift toward green energy is accelerating, but experts warn that a looming copper shortage could jeopardize efforts to provide clean and affordable energy. Swiss bank UBS predicts a supply deficit exceeding 200,000 tons by 2025, while the International Energy Forum emphasizes the urgent need for over a billion tons of new copper mining capacity annually through 2050. Recent declines in copper prices may not last long, as soaring demand from renewables and EV markets could quickly turn today's surplus into a shortfall. With copper mines taking years to reach production, immediate action is critical to secure future supplies. Mining exploration and development projects are already underway, with notable updates from Usha Resources Ltd. (TSXV:USHA) (OTC:USHAF), Rio Tinto Group (NYSE: RIO), Taseko Mines Limited (NYSE-American: TGB) (TSX: TKO), Capstone Copper Corp. (TSX: CS) (OTCPK: CSCCF), and Amerigo Resources Ltd. (TSX: ARG) (OTCQX: ARREF).

The article continued: Achieving net-zero emissions by 2050 will require unprecedented investment, estimated at US$78 trillion, according to Wood Mackenzie. At the same time, the United Nations underscores the potential for minerals like copper to drive shared prosperity as the world navigates this monumental transition.

Usha Resources Announces Initiation of Induced Polarization Survey at the Drill Ready Southern Arm Copper-Gold VMS Property

Usha Resources Ltd. (TSXV: USHA) (OTC: USHAF), a North American mineral acquisition and exploration company, announced that it has started fieldwork on a new survey at its Southern Arm property in Quebec. This survey will help locate the best areas to drill for copper and other valuable metals in one of the most mineral-rich regions of the province. Usha has an agreement to fully acquire the Southern Arm property within the next two years.

Val d'Or-based contractor Geophysique TMC is running the survey, focusing on an area called the Hollywood trend, which shows signs of metal deposits. The survey results will help Usha identify the best spots to drill as it prepares for its first drilling program set for the winter of 2024-2025.

"This work represents an important stage in Usha's exploration strategy at the Southern Arm Property, and we are thrilled to have the experience of the local experts at Geophysique TMC applied to our program," said Deepak Varshney, CEO of USHA. "We eagerly await the results from this program and plan to apply the results of the complimentary geochemical exploration program at our Hollywood target to further refine our drill targets in the subsurface. The results from these programs will ensure only the highest priority targets are targeted with the diamond drill in our upcoming maiden drill program in the 2024-2025 winter season. With negotiations for the Jackpot Lake transaction continuing, our focus in the field will remain on Southern Arm. Additionally, we have been evaluating additional opportunities to acquire copper and/or gold projects to create further shareholder value in a similar fashion. We look forward to providing shareholders updates as our strategy progresses."

Now, Usha is using advanced technology, called an Induced Polarization (IP) survey, to map the underground area up to 350 meters deep. This survey will help pinpoint the best spots for drilling by identifying areas likely to contain copper and other valuable metals. Usha plans to start a 3,000-meter drilling program this winter. Alongside the IP survey, the company is also collecting surface samples to create a baseline for future exploration.

The Southern Arm property is located in Quebec's Abitibi Greenstone Belt, one of the world's most mineral-rich regions, known for hosting major deposits of copper, gold, and other metals. The property features a 7.3-kilometer conductive copper-gold trend along the Bapst Fault, a key geological structure running through volcanic rock formations that often hold valuable minerals. Historical drilling in the area revealed signs of copper and other metals, but further exploration was limited due to thick soil cover. The property is also near significant deposits like the historic Selbaie mine, which produced 53 million tonnes of copper, zinc, gold, and silver, and the B26 deposit, with an indicated resource of 11.32 million tonnes of copper and gold.

CONTINUED… Read this and more news for Usha Resources Ltd. https://energymetalnews.com/2023/02/28/charging-along-the-highway-towards-domestic-lithium-dominance/

Other recent industry developments and happenings in the market include:

Rio Tinto Group (NYSE: RIO), a mining giant with operations worldwide, recently announced it approved the construction of a new 25-megawatt solar plant at its Kennecott copper operation in Utah, bringing the mine's total solar capacity to 30MW. The new solar plant will be located next to Kennecott's existing 5MW solar plant, which was completed in 2023. Together, the two solar plants will reduce Kennecott's Scope 2 emissions by approximately 6%, or 21,000 tons of carbon dioxide equivalent per year. This is equivalent to removing around 5,000 gas-powered passenger cars from the road.

"Expanding our solar farm is the latest step in our journey to reduce our carbon footprint," said Nate Foster, Kennecott Managing Director for Rio Tinto. "Together with other measures we've taken, such as closing a coal-fired power plant, deploying battery electric vehicles underground, and our recent transition to renewable diesel, we have reduced our emissions by millions of tons over the past few years. We're demonstrating every day that sustainable practices and resource production can go hand-in-hand to benefit our company as well as our community."

Taseko Mines Limited (NYSE-American: TGB) (TSX: TKO), a mining company with assets in British Columbia and Arizona, recently reported its Q3 2024 operational update and $48 million of Adjusted EBITDA. Over the quarter, Taseko's Gibraltar Mine produced 27 million pounds of copper and 421,000 pounds of molybdenum, with copper recovery improving slightly to 79%. While mill throughput was lower due to maintenance and equipment upgrades, molybdenum production rose by 33% thanks to higher grades from the new Connector pit, with operating costs at $2.92 per pound of copper.

"The development of the new Connector pit advanced on plan in the third quarter, with the new pit providing approximately half of the mill feed in the period," said Stuart McDonald, President and CEO of Taseko. "Copper production next year is expected to increase to the 120 to 130 million pound range, and molybdenum production is also expected to increase. Lower-grade ore stockpiles will be used to supplement mined ore in the first half of the year, so production will be weighted to the second half of the year."

Capstone Copper Corp. (TSX: CS) (OTCPK: CSCCF), an Americas-focused copper mining company, recently filed a National Instrument 43-101 (NI 43-101) compliant technical report titled "Mantoverde Mine, NI 43-101 Technical Report and Feasibility Study, Atacama Region, Chile" for its Mantoverde Optimized brownfield expansion project. Prior to the report, Capstone reported its Q3 2024 financial results, citing copper production totalling 47,460 tonnes at C1 cash costs of $2.83 per payable pound of copper produced.

"Our operations in Chile exhibited meaningful milestones at both our flagship Mantoverde Development Project (where we achieved commercial production) and at Mantos Blancos (which has now demonstrated that it is capable of delivering its nameplate capacity)," said John MacKenzie, CEO of Capstone. "We expect Q4 to be our strongest quarter of the year, providing a glimpse of the future Capstone with a larger production base and lower unit operating costs. During the past few months, we also released studies for our Mantoverde Optimized and Santo Domingo projects, and announced a leadership succession plan, all of which have positioned us extremely well for our next phase of growth."

Amerigo Resources Ltd. (TSX: ARG) (OTCQX: ARREF), a producer and seller of copper and molybdenum concentrates, recently reported its Q3 2024 operational results from its 100%-owned Minera Valle Central (MVC) operation located near Rancagua, Chile. Over the quarter, Amerigo produced 16.3 million pounds of copper, exceeding expectations while keeping costs low at $1.93 per pound. Rising copper prices and strong performance enabled Amerigo to pay $8.5 million in dividends during the quarter.

"MVC delivered a strong quarter with copper production of 16.3 million pounds, outperforming guidance," said Aurora Davidson, President and CEO of Amerigo. "Amerigo's Capital Return Strategy was designed so shareholders can quickly benefit from a quarter like this. We will continue to deploy all three mechanisms in the Strategy with maximum flexibility, as we expect copper prices to continue strengthening due to fundamental supply and demand issues. We are off to a great start in Q4, as copper prices are well above the quarterly average prices we have received throughout 2024."

Source: https://energymetalnews.com/2023/02/28/charging-along-the-highway-towards-domestic-lithium-dominance/

CONTACT:

USA NEWS GROUP
info@usanewsgroup.com
(604) 265-2873

DISCLAIMER:

Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Energy Metals News is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Usha Resources Ltd. advertising and digital media from the Company directly ("the Company"). There may be 3rd parties who may have shares of Usha Resources Ltd., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Usha Resources Ltd. MIQ and reserves the right to buy and sell, and will buy and sell shares of Usha Resources Ltd. at any time hereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through private placements and/or investment vehicles.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

View original content:https://www.prnewswire.co.uk/news-releases/renewables-and-evs-are-driving-copper-shortages-faster-than-expected-302322247.html