Today I got a snail mail pump but it makes a good case for investing in SIRG, a real company with 10 yrs of proven copper ore reserves.
Dwindling Ore Supply and soaring global demand are pushing copper towards an unprecedented price surge that could make you wealthy.
Global demand for copper is outpacing the amount of copper ore left in the ground. Copper could hit record highs this year.
In fact, some experts are saying we only have 25 years left to mine it before it's all gone. The world is scrambling to grab every last ounce. This is a frightening development, for sure, but it doesn't have to be for those with the foresight to act now.
Today copper is used in construction, power generation and transmission, electronic product manufacturing, as well as the production of industrial machinery and transportation vehicles.
For investors, who take action now though, this coming copper ore shortage could reap an epic windfall unlike any we've ever seen before!
NOTE: Many copper mining companies are experiencing increased costs, dwindling water resources and environmental concerns. The CAPEX to develop a new mine along with the 5-7 year permitting process is causing some companies to re-examine their projects.
“Resolution Copper Mining LLC is a limited liability company whose members are a subsidiary of London-?based Rio Tinto plc – the managing member – and a subsidiary of Australia-?based BHP Billiton. The company seeks to develop one of the largest undeveloped copper resources in the world near Superior, Ariz. The project is currently in the pre-?feasibility phase and production is not anticipated until the early 2020 s. The project will mine ore using underground block-?caving methods at depths of nearly 7,000 feet below surface. When in full production, the mine will employ 1,400 workers directly and generate an additional 2,300 indirect and induced jobs. The mine will be North America’s largest copper producer when in full production, capable of producing more than 25 percent of the nation’s demand based on today’s usage.
Sadly the company is getting ready to cut back on about 400 jobs in a move that will change the company for quite some time. They are, for the time being idling operations at their Superior facility. Job cuts of this size will be a mass layoff action.
The company recently put out its second quarter results, which show why the company is turning to layoffs and idling in order to save on operating expenses, “Resolution Copper Mining LLC (RCM) will reduce its overall budget from about $200 million in 2012 to about $50 million in 2013, which will result in the loss of approximately 400 jobs or about 75 percent of its overall workforce, officials announced today. The company will suspend all shaft development and drilling activities after current work assignments are completed in the first quarter of 2013.
But Rio Tinto’s subsidiary Resolution Copper recently announced it is laying off 400 of its approximately 500 workers, blaming the U.S. Senate for not passing a land exchange bill that the company says is crucial to its proposed operations. The land exchange would give Resolution Copper ownership of 2,300 acres of national forest land, including the popular Oak Flat campground, on a lovely oak- and cottonwood-studded plateau above the desert east of Phoenix.
On November 30 the company announced that they cannot get financing to continue operations without the land exchange.
Another problem SIRG does not have!
