Mining company Ceibo has raised an impressive $30 million to expand their advanced copper extraction technology. Investments were led by Energy Impact Partners and mining-focused investors such as CoTec Holdings, Audley, Orion Resources, Unearth, and Pincus Green.
But what’s the big deal about copper?
Copper is a key player in various sectors – electricity, transportation, communications, construction, and more. And with the accelerating adoption of renewables and electric vehicles, copper demand is projected to DOUBLE by 2050.
However, the production of copper is facing significant obstacles – declining ore grades, evolving mineralogy, and bureaucratic permitting processes. These hurdles could seriously hamper the growth of copper supply, putting a dent in our clean energy transition.
Ceibo’s groundbreaking leaching process and solution can economically boost copper production, using existing mine infrastructure and with a smaller environmental footprint than current options. This technology is a game-changer, targeting Chalcopyrite and other refractory copper minerals that hold over 70% of known copper reserves.
With this fresh injection of funds and a team of seasoned professionals at the helm, Ceibo is poised to take its technology global and help meet society’s increasing demand for copper. With their help, we can continue smoothly along the path of the energy transition.