Butte, Montana – The copper mining sector, which wreaked havoc on Butte’s ecology, may now be crucial to the green industry’s efforts to protect the environment.
“Copper is essential to combating climate change. We’re mining the solution to climate change right here in Butte America,” said Mark Thompson with Montana Resources in Butte.
There is a high demand for what is commonly referred to as red gold since electric vehicles, wind energy, and solar panels all require a lot of copper wiring.
According to Montana Resources, copper has recently sold for more than $4 per pound, and prices are anticipated to increase.
“What we’re seeing in the current markets is the projected supply of copper going down and the demand increasing exponentially,” said Thompson.
The yearly demand for copper is predicted to rise to 40.3 million tons by 2031 due to electrification, but the production is only expected to reach 33.1 tons, leaving a 7.2 million ton shortage.
According to Montana Resources, major mines will swiftly exhaust their supply, and smaller miners would have to pick up the slack.
“Mines like Black Butte Copper and White Sulfur are going to become what’s going to supply copper in the future,” he said.
The early mining business in Butte was so heavily polluted that it made the city the biggest Superfund site in the nation.
Recently, a consent order was reached, and a significant cleaning is now in progress. Montana Resources is taking part in this remediation procedure.
“You can’t hold what we do today accountable to what was done in the past, we are among the highest regulated industry in the country,” said Thompson.
Since Montana Resources contributes up to $10 million in yearly taxes to the city of Butte, higher copper prices will be advantageous for the city.
