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Castillo Copper Ltd on Tuesday said that it has been progressing plans to expedite developing its copper assets, against a backdrop of positive long-term demand for the material. Castillo Copper is a base metal explorer primarily focused on copper across Australia and Zambia. It told investors that it has appointed Entech Mining as a service provider to progress development work at the Big One deposit, and that the Castillo geology team is progressing work to update and enhance the confidence in the 2017 inferred JORC mineral resource estimate for the Cangai copper mine. Castillo attributed the move to the transition to green energy, which it said means there is likely to be persistent upward pressure on the price of copper and greater exploration to establish new supply chains. ‘The board is well versed in the current global demand-supply dynamics for copper which by all accounts suggests explorers, like Castillo Copper with inferred resources, are potentially prime beneficiaries. Having recently outlined plans to ramp up advancing the Big One deposit and Cangai copper mine, the board is delighted to announce the appointment of this key service provider to progress development work,’ said Chair Ged Hall. Castillo Copper shares closed 3.5% higher at 0.75 pence each in London on Tuesday. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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