The United States is in the middle of a copper boom. With four new major projects scheduled to open in 2020 and many expansions to existing operations expected, mining companies large and small have contributed to the recent investment of $1.1 billion in copper mining. One cause of this boom is increased demand by automobile manufacturers like Tesla, whose electric cars use roughly twice as much copper as cars with combustible engines.
The opportunity for profit-yielding copper mines is enhanced in the US due to the massive copper reserves here. According to the US Geological Survey, the US has the fifth-largest copper reserves in the world. 15 years ago, American mining was thought to be a dead industry, but the discovery of new reserves, primarily located in Nevada, a particularly mining-friendly US state, and increased demand, has created a favorable mining situation.
According to recent data collected by the International Copper Study Group, the planned upgrades and build outs in the coming year will boost American copper production by at least eight percent. Several major mining companies are planning on opening new copper mines by the end of 2020.
Other factors contributing to this surge in copper production is the Trump Administration’s push to make obtaining mining permits easier and much faster. Investors don’t have to worry about resource nationalism in the US, either.
Leveraging Technology to Take Advantage of the Copper Boom
Growing alongside this copper boom is the use of advanced technology to automate mining extraction tasks, enhance data collection, protection, and usage, and create more complete exploration data.
As copper mining operations increase in size and scope, the addition of technology like Micromine’s data management module Geobank becomes more important. Gathering, storing, securing, and utilizing data is crucial in a competitive market like copper in the US. Mining operations have to move quickly to respond to changing conditions and data to take full advantage of the booming market.
Building a database management system requires time and investment, which can slow a mining operation. But if the database can be installed relatively quickly and still be effective in storing and organizing data in a secure and easy-to-access location, stakeholders and managers alike have access to the same information that allows them to make coordinated, informed decisions in real time. With many mining companies surging into Nevada and elsewhere in the US to extract copper, quickly utilizing mining and exploration to make adjustments can be the difference between profitability and depressed returns.
Ever-Improving Technology
Data management is only one facet of Micromine’s suite of software and hardware that streamline mining operations around the world. With many of Micromine’s clients coming to Nevada to take advantage of the copper boom, the expansion of technological advancements in the service of mineral and heavy metal mining is rapidly changing the industry as we know it. The copper boom doesn’t appear to be slowing anytime soon, and new technology and mining operational features will help companies take advantage.
