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Copper Investing

World Copper Eyes Strategic Partner to Advance Zonia Copper Project to Production

Copper Investing

“A bankable feasibility study is going to cost $5 million to $7 million, and we don't have that right now. The plan is to get it there, but we're going to need partners to help us get it there,” said Gordon Neal, president and CEO of World Copper.

Following the announcement of a strategic review process, World Copper (TSXV:WCU,OTCQX:WCUFF) President and CEO Gordon Neal said the exercise will help inform a new strategy to develop the Zonia copper project in Arizona.

During an interview at the Vancouver Resource Investment Conference, Neal said the strategic review, initiated in November, aims to position Zonia for significant advancement despite challenging market conditions.

“The next phase of getting (Zonia) into production is a bankable feasibility study so you can fund it. A bankable feasibility study is going to cost $5 million to $7 million, and we don't have that right now,” Neal said.

“The plan is to get it there, but we're going to need partners to help us get it there. So that's why (we’re doing) the strategic review, and it looks like we'll have an announcement in the next few weeks on one of these opportunities.”

Neal underscored the strategic advantages of Arizona-based Zonia, saying the jurisdiction accounts for 71 percent of US copper production. “(Zonia) is on private land and it's a past producer, so it can get its permits fairly easily,” he said.

The project’s production potential — 70 million to 100 million pounds of copper annually for a decade — aligns with growing global copper demand driven by decarbonization.

“It’s why people should be looking at Zonia, because it is a good asset,” Neal noted.

Watch the full interview with Gordon Neal, president and CEO of World Copper, above.

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