Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Chilean miner World Copper has agreed to acquire a 100pc stake in Cardero Resources’ Zonia copper project in Arizona, USA.


Hendrik Van Alphen, chief executive reiterated on Tuesday that the takeover will help the company leverage Arizona’s mining-friendly policies and boost copper production.


World Copper has yet to disclose their exploration plans and production schedules. The Zonia project is in Arizona’s Walnut Grove mining district and has been in the drill-testing phase.


According to Cardero Resources, only 30pc of the area has been mined since 1966, when around 17mn mt of copper was recovered through high-density drilling. A preliminary economic assessment in 2018 confirmed the feasibility of the project in the remaining area, the company indicated on its website.

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