Pan Global Resources Inc. (TSXV: PGZ | OTCQB: PGZFF) has noted the potential benefits for its project regarding the inclusion of copper as one of the key metals in the newly released European Union’s Critical Minerals and Metals List. The new list identifies the most critical minerals and metals that are essential to the EU’s economic growth and its transition to a low-carbon and digital economy.
Pan Global believe the EU’s focus on critical metals and minerals could provide significant benefits to itself and other companies exploring and developing mineral resources in Europe.
The EU has made a commitment to support the sustainable supply of these critical metals and minerals, including copper, and has identified potential funding opportunities and tax incentives to support companies in this sector.
The EU’s recently announced support for copper as a critical metal underscores the importance of Pan Global’s copper project, which has the potential to supply the EU with a reliable source of this essential metal.
“The inclusion of copper on the EU’s 2023 Critical Minerals and Metals List is a positive development for Pan Global,” said Tim Moody, President and CEO of Pan Global Resources. “We are confident in the potential of our copper project in Spain and this development has the potential to support the rapid advancement of our copper discovery at Escacena. We look forward to accessing potential funding opportunities and other incentives that could support our efforts to provide a reliable and sustainable European supply of copper.”
“With three drill rigs operating since the beginning of the year at the Escacena Project, Pan Global is nearing the successful completion of a 10-hole programme at the La Romana discovery. Drilling is also ongoing at the Romana Deep target where three holes have been completed and at the Zarcita target where drill hole 14 is in-progress. Results are anticipated over the coming weeks.”
The global demand for copper is expected to increase significantly in the coming years, with estimates suggesting that the EU alone will need an additional 2.5Mt of copper per annum by 2030.
Moreover, the EU’s emphasis on responsible and sustainable sourcing of critical minerals is expected to drive improvements in environmental, social, and governance practices within the copper industry. This will benefit not only the EU but also the global community by reducing the environmental impact of mining and promoting fair labour practices. This important development could provide for speedier project permitting and access to capital which includes grants, tax incentives, research, and regulatory assistance along with other forms of financing and technical assistance.
To find out more, please visit www.panglobalresources.com
