Mining investors hear the same refrain these days, no matter what metals sector in which they choose to invest. The best deposits have already been discovered and (in many cases) already mined to depletion. The junior exploration companies – mostly Canadian – who locate and develop these ore deposits must look in ever more remote locations, or deeper and deeper into the Earth’s crust.Today, bauxite is the major metal in Jamaican mining. At one time, Jamaica was the world’s second largest producer of bauxite, attracting household names like Alcan and Alcoa. In 2017; Jamaica is now the world’s sixth largest producer of bauxite, as other bauxite-producing nations like Australia have dramatically ramped up their production.
Not only is Jamaica an established, mining-friendly jurisdiction, it is part of the British Commonwealth. As such, it is governed by British law. This means more legal certainty, particularly with respect to property rights, than in most other Caribbean jurisdictions. It also has abundant mining infrastructure based on its bauxite/alumina industry. Copper porphyry deposits are typically lower grade, but with a massive tonnage of mineralization. Of equal importance, mineralization is generally continuous, in long, thick layers. This potential was what drew Carube Copper to Jamaica.
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