Against a backdrop of steady progress in its tungsten and molybdenum interests, this year has seen Thor Mining (LSE:THR) introduce radical changes to its copper strategy. Alongside its partner Environmental Copper Recovery, the company has agreed to transfer its stake in the Kapunda copper project into a business called EnviroCopper.
The new vehicle will focus on using a non-invasive production technique called in-situ recovery (ISR) to recover copper – an approach currently being utilised by few firms globally. As well as Kapunda, the deal gives Thor exposure to Moonta, a highly-mineralised, large Australian copper project featuring numerous historically-mined deposits alongside more recent discoveries.
In this report, Thor’s executive chairman Mick Billing explains ISR’s potential benefits before running through progress at Kapunda and Moonta and EnviroCopper’s plans for both assets. Importantly, he also highlights how the terms of the EnviroCopper deal and Thor’s heightened copper exposure could provide a ‘game-changing’ opportunity for the organisation and its investors. Indeed, as he puts it in the report:
‘With recent technical advances, ISR can now offer a lower footprint and is likely to find further application in mineral recovery fields because it can coexist with other land use activities. This is a very exciting development in Thor’s copper strategy, potentially adding significant scale to our copper interests by bringing Moonta together with our existing interest in Kapunda within a potentially-large ISR-focussed copper business.’