Market
Global Demand:
- Europe consumed 16% of the global copper market in 2018, but only accounts for ~5% of global production Copper demand is expected to reach 3.5Mt by 2030 driven by the growth of electric vehicles (30%), increasing urbanisation and industrialisation.
- As South American production becomes more unstable and the western world looks to source responsible alternatives outside of China and the DRC, Euro Sun will provide a sustainable supply to feed the growing decarbonisation agenda.
Customers:
- Leading the sector towards a more sustainable and responsible path of providing critical metals to the EU, Euro Sun will produce a clean, high-grade copper concentrate with a strong gold credit at an AISC of US$1.70/ lb.
- There is strong demand at European smelters for clean concentrate, with Spain, Germany, Serbia and Sweden all being strategic markets for the concentrate.
EU Policy:
- The European Union is taking steps to cut reliance on China for raw materials. The European Commission (EC) is aware that reliable and unhindered access to certain raw materials, including copper, is a growing concern within the European Union. To this end it is seeking to reduce reliance on countries like China and become more self-sufficient. To achieve this, the EC has set up the European Raw Materials Alliance (ERMA), which has prepared an investment pipeline that is expected to contribute to solving the dependency problem.
- To reduce Europe’s reliance on China, the EU is fostering a number of partnerships with resource-rich countries to secure a diversified supply of sustainably mined critical raw materials away from a single source. These partnerships focus on the integration of raw material value chains between the EU and third countries, cooperation in the area of research and innovation and social and environmental criteria.
Romania:
- Romania is a long-standing mining jurisdiction that values economic development from mining activities and, as an EU member, provides significant transparency and stability as an operating company.
- Long-standing mining jurisdiction which values economic development from mining activities.
- Excellent established infrastructure.
- Mining Code provides general principles of transparency and free competition.
- Strategically located amongst the key European-owned smelters.
- Rule of law as befitting a member of the European Union.
- Transparent financial system.
- Romania is home to first world infrastructure from roads to rail to power and The Rovina Valley property is accessible year-round.
