Copper-Cobalt

Aeon Metals’ flagship is the 100% owned Walford Creek.

Renewable energy transition

Battery and electrification metals are pivotal in solving some of today’s greatest environmental challenges.

Many technologies that are critical for fighting climate change rely on copper and cobalt, making them essential metals for a low-carbon future. Their ability to increase energy efficiency means they are favourable for renewable energy systems which require significantly more copper and cobalt than traditional energy systems.

Electric vehicle (EV) manufacturers are looking to produce more energy efficient electric vehicles and battery storage systems which is enabled by cobalt. The use of both metals will continue to increase as manufacturers look to produce more energy efficient electric vehicles and battery storage systems

McKinsey has estimated a 43% potential increase in copper demand by 2035 as its role in electromobility, energy efficiency and renewable energy continues to grow.

COPPER IN RENEWABLE SYSTEMS

  • As copper is a highly efficient conduit, it is used in renewable energy systems to generate power from solar, hydro, thermal and wind energy across the world.
  • Copper helps reduce CO2 emissions and lowers the amount energy needed to produce electricity. In many renewable energy systems, there is 12-times more copper being used than in traditional systems to ensure efficiency.
  • Copper is one of the best renewable resources. It is one of the few materials that can be recycled 100% repeatedly without a loss in performance.

COBALT IN RENEWABLE SYSTEMS

  • Energy storage solutions allow renewable energy to be stored locally for when it is needed.
  • Cobalt is an essential part of the lithium-ion batteries that give electric vehicles the range and durability needed by consumers.
  • Cobalt’s high energy density allows batteries to be lightweight and energy dense which means batteries have a longer run time.
  • Cobalt’s recyclability and energy storage capabilities promote a more sustainable, greener EV battery supply chain.

Copper and Cobalt demand

Demand for copper and cobalt is expected to grow in line with growth in the renewable energy generation, storage and transmission sectors.

Both copper and cobalt are expected to exhibit long-term demand growth. With long-term mine decline and the challenges associated with the next major phase of global copper and cobalt developments means there is a ready need for new mine developments.

Aeon is targeting the production of premium, high purity copper and cobalt products from the Walford Creek Project. The new metallurgical flowsheet design explored in the scoping study, enables the recovery of metals into high quality end products required for renewable energy technology.

Increasing demand for responsible sourced cobalt

Responsible sourcing of cobalt is an important topic for the cobalt industry with more than half of the world’s current cobalt supply subject to unethical mining practices. Aeon’s Walford Creek Project has the potential to bring responsibly sourced cobalt along with other sustainably sourced metals to the global supply chain.

McKinsey has estimated a 43% potential increase in copper demand by 2035 as its role in electromobility, energy efficiency and renewable energy continues to grow.

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