In this episode we chat to Matthew Rowlinson, President and CEO at Solaris Resources to discuss the development of Warintza in Ecuador, one of the world’s largest undeveloped copper projects.
We explore what differentiates Warintza from other major copper discoveries, the critical steps required to move a resource of this scale towards construction, and how Solaris is thinking about financing and ownership as the project becomes increasingly de-risked.
We also look at the wider copper market in particular; why the industry isn’t building enough new mines despite forecasts of a future supply shortage, the growing importance of geopolitics and China’s role in downstream refining, and what the mining industry needs to do to secure the social and political support required to develop the next generation of major copper mines.
KEY TAKEAWAYS
Warintza is an open-pit copper porphyry project in southeastern Ecuador boasting a 5.8-billion-tonne resource, a 55-year mine life, and an advantageous 0.5-to-1 strip ratio.
Solaris is targeting mid-2027 to achieve a fully permitted status, aiming for a final investment decision (FID) by the end of 2027 followed by an estimated three-year build.
Upstream mine ownership does not guarantee supply security because Western development has lagged behind China's dominant 50% to 60% share of global smelting and refining capacity.
The primary barrier to meeting the global copper shortage is not the lack of raw resources, but the lengthy timelines and the scarcity of projects that have successfully aligned permitting, social license, and technical studies into a truly financeable package.
BEST MOMENTS
"There’s a difference between a very good ore body, a good project, and ultimately a financeable project... in the world today there's very few projects that are actually probably financeable."
"Mining is really the procurement arm of the world... industrialization and urbanization has only happened through ultimately mining."
"Western governments are looking at independence of supply chains... However, owning a mine in Latin America, owning a mine in the DRC... does not necessarily solve the supply chain issue because your concentrates are ultimately going to go to China to be processed."
"Partnership... is not necessarily just about bringing in capital. It’s really about bringing in expertise, bringing in a balance sheet that really is solid, and the ability to go and construct."
VALUABLE RESOURCES
Mail: rob@mining-international.org
LinkedIn: https://www.linkedin.com/in/rob-tyson-3a26a68/
X: https://twitter.com/MiningRobTyson YouTube: https://www.youtube.com/c/DigDeepTheMiningPodcast
Web: http://www.mining-international.org
GUEST RESOURCES
https://www.solarisresources.com/
https://www.linkedin.com/company/solaris-resources-inc/?originalSubdomain=ca
https://x.com/SolarisResource
Email address: info@solarisresources.com
CONTACT METHOD
rob@mining-international.org
https://www.linkedin.com/in/rob-tyson-3a26a68/
Podcast Description
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.
This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/
