Why the Global Economy Deems Copper Porphyry as One of the World's Most Valuable Deposit Types

PALM BEACH, Fla., May 4, 2022 /PRNewswire/ --  FinancialNewsMedia.com News Commentary - Porphyry copper deposits are the world's largest source of copper and is also is one of the world's most valuable deposit types. The term "porphyry" comes from the word "porphyritic", a textural term used by geologists to describe the mineral pattern within the rocks that commonly occur in copper porphyry deposits. Porphyry copper deposits play an important role in the global economy. These deposits provide over 60% of the world's copper and include other important metals such as molybdenum, gold and silver. Porphyry copper deposits are known for their low grades and very high tonnage. Porphyry copper deposits are generally composed of a "plug-like" igneous intrusion – a large magma body that is emplaced beneath a volcanic system. On average these deposits can have a vertical and horizontal extent of 1-2 km and can range from tens of millions to more than one billion tons in size. An article in Investing News said that: Ask any economic geologist the most important factor in building a profitable mine and they will tell you "grade is king." Grade refers to the concentration of a valuable mineral within ore, and higher-grade ore is typically cheaper to extract. Hence, the higher the grade, the more economical the deposit and the more likely it will be mined — or so the logic goes. The mantra has become an unshakeable tenet in the mining industry, and a standard rule of thumb for investors gauging the true value of a resource company.  Of course, there are always exceptions to any rule, and copper porphyry deposits are quite possibly the best example of how the "grade is king" dogma is merely an oversimplification of mine economics. Other geological factors can have a large impact on the economics of a project. In the case of copper porphyry deposits, their enormous size, polymetallic nature, decades-long mine lives and high production rates rank them as one of the world's most valuable deposit types."  Active Companies in the markets today include First Tellurium Corp. (CSE: FTEL) (OTCPK: GODYF), Newmont Corporation (NYSE: NEM) (TSX: NGT), Rio Tinto Group (NYSE: RIO), Teck Resources Limited (NYSE: TECK) (TSX: TECK.A), Surge Copper Corp. (OTCQX: SRGXF) (TSXV: SURG).