Bezant Resources PLC (LON:BZN) said it has repositioned its portfolio during 2020 for a predicted surge in copper demand over the next decade.
Colin Bird, executive chairman, noted the AIM-listed business had acquired a 30% interest in the Kalengwa copper-silver project in Zambia and a 70% interest in the Hope Copper-Gold project in Namibia.
“That means the company is well-positioned in the gold-copper space when the demand for copper is expected to double by 2030,” he said.
He believes the copper industry will return to its structure of the 1990s, where ‘small high-grade mines existed, medium-sized open pit and underground mines existed and of course, the large open pits which were the key contributors’.
Bird’s comments were made in a statement with the company’s results for 2019, which were published later than usual because of the extension afforded by COVID-19 disruption.
Losses in 2019 rose to GBP1.1mln from GBP846,000.