Overview
The world needs more copper and the main problem right now is figuring out where the additional pounds of copper will be coming from as most countries are getting stricter when it comes to permitting processes while the average grade of the copper discoveries continues to decrease.
Kazakhstan is a major exporter of copper and is slated to increase its total production to in excess of 1.8 billion pounds in 2023 as several producers are ramping up their output. Although Kazakhstan is best known for its uranium production, the country is an important player in the copper sector and has been largely ignored by the west in the past.
Enter the scene, Arras Minerals (ARK.V) which picked up an option to acquire full ownership of the Beskauga copper-silver project in Kazakhstan. The company is almost halfway through an initial 30,000 meter drill program which aims to further increase the current resource of over 1.2 billion pounds of copper and 3.25 million ounces of gold (with approximately 60% of the resource in the indicated resource category).
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