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According to S&P Global Market Intelligence, the copper sector is facing a historic discovery shortfall. With new discovery rates collapsing by nearly 80% since 2010. At the same time, copper grades are in decline:

Operating mines average just 0.53% copper. Projects under development are even lower, averaging 0.39%. Historically, grades exceeded 5%, but most high-grade deposits have been depleted.

In this tightening landscape, near-surface, high-grade projects like Cerro Grande - where intercepts exceed 4% Cu - stand out as rare, high-margin opportunities capable of meeting surging demand from electrification and infrastructure.

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