Demand, supply and price of copper – an exploration ... - Rio Tinto
Demand, supply and price of copper – an exploration ... - Rio Tinto
Demand, supply and price of copper – an exploration ... - Rio Tinto
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The challenge for <strong>exploration</strong> <strong>–</strong> discovery <strong>of</strong> new<br />
Tier 1 <strong>copper</strong> deposits<br />
Millions Metric Tonnes<br />
Bingham C<strong>an</strong>yon, USA<br />
60<br />
50<br />
40<br />
30<br />
20<br />
10<br />
View <strong>of</strong> the open pit<br />
0<br />
2006<br />
2002<br />
1998<br />
1994<br />
1990<br />
1986<br />
1982<br />
1978<br />
1974<br />
1970<br />
1966<br />
1962<br />
1958<br />
1954<br />
1950<br />
1946<br />
1942<br />
1938<br />
1934<br />
1930<br />
1926<br />
1922<br />
1918<br />
1914<br />
1910<br />
1906<br />
Ore Mined<br />
Production by year 1906 - 2008<br />
• Tier 1 deposits <strong>–</strong> the largest <strong><strong>an</strong>d</strong> highest<br />
quality in the world <strong>–</strong> are geologically rare<br />
<strong><strong>an</strong>d</strong> confer sustainable competitive<br />
adv<strong>an</strong>tage<br />
• They grow with <strong>exploration</strong> <strong><strong>an</strong>d</strong> commonly<br />
have other Tier 1 deposits nearby<br />
• Their capacity to support production<br />
exp<strong>an</strong>sions delivers optionality <strong><strong>an</strong>d</strong> value<br />
growth<br />
• Output from these deposits dominates global<br />
<strong>copper</strong> production<br />
<strong>Dem<strong><strong>an</strong>d</strong></strong>, <strong>supply</strong> <strong><strong>an</strong>d</strong> <strong>price</strong> <strong>of</strong> <strong>copper</strong> <strong>–</strong> <strong>an</strong> <strong>exploration</strong> perspective 12
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