VANCOUVER — British Columbia is known for its coal and copper-gold deposits, with a storied history of mining all three commodities. Now the second largest mining company in the world is looking to add a B.C. copper porphyry deposit to its portfolio of development properties.
Speaking at the opening ceremony of the Association for Mineral Exploration’s Roundup 2019 convention in Vancouver, Rio Tinto’s (LON: RIO; NYSE: RIO) exploration director for the Americas Region, Chris Welton, said his company is scoping out B.C. for a copper play.
“We would like to be exploring in BC but we just need to find the right project,” Welton said. “My exploration manager reminds me that to balance our portfolio in Canada, he wants a B.C. porphyry.”
Porphyry deposits are sought after because they are low grade but very large, allowing for bulk mining and economies of scale.
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