Copper initial resources in 2023 lowest since 2019 amid looming supply defi

Metrics for copper in initial resources fell to four-year lows in 2023, reflected by the decrease in drilling activity in copper assets after two consecutive years of increases. Total contained copper in initial resources was 7.6 million metric tons across 20 announcements. Both total contained copper and the number of announcements represent the lowest values since 2019. After...

Gold in initial resources drops to 4-year low in 2023

Total gold contained in initial resources declined in 2023 to a four-year low of 37.1 million ounces, 7% lower than the 40 Moz announced in 2022. The number of gold initial resource announcements increased to a five-year high of 56. Yet only 30% contained more than 500,000 ounces of gold, decreasing the average to 0.7 Moz from 0.8 Moz in 2022. This marks the second consecutive ...

Canada – Mining by the numbers, 2023