Where is the Copper Demand Coming From?

The two largest developing nations in the world, China and India, have seen tremendous growth in copper demand. In 2024, copper imports to China totalled 5.13 million tons¹. This makes the Chinese copper market the largest in the world, using more than half of the global supply of copper at 59%², and continues to grow every year.

In 2024, India's copper demand increased by 13% to 1.7 million tons³, with the building construction and infrastructure sectors contributing significantly, growing at 9.1% and 6.8%, respectively. As India continues its rapid urbanization and industrial expansion, demand is expected to remain strong, particularly in power transmission, electric vehicles, and renewable energy. The largest areas of growth for copper in India have been the transportation sector at 34%, automobiles and railway modernization at 14%, and infrastructure products at 14%⁴.

The United States' demand for copper is also steadily rising, driven by infrastructure development, renewable energy expansion, and the growing electric vehicle (EV) market. S&P Global forecasts that by 2035, the U.S. will need to double its current copper supply to meet the growing demand driven by the energy transition⁵.

Before the advent of EVs and power plants, copper was widely used in utensils, coins, weapons, tools, and jewellery for centuries. Copper has never had as many uses as it does in the modern world due to its excellent electrical conductivity, corrosion resistance, and uses in electronics.

The largest share of its use is in electrical wiring, power transmission, and electronics, where it plays a critical role in circuit boards, telecommunications, and data centres. The construction industry also relies heavily on copper for plumbing, HVAC systems, and roofing, benefiting from its longevity and antimicrobial properties.

Global Shift to Renewable Energy

With the global shift toward renewable energy, copper demand has surged in solar panels, wind turbines, and energy storage systems. The rise of EVs further accelerates copper consumption, as EVs and charging infrastructure require more copper than traditional gasoline-powered cars. In transportation, it is widely used in radiators, braking systems, and industrial machinery, while its role in manufacturing extends to industrial motors, heat exchangers, and metal alloys such as brass and bronze.

As the world continues to adopt EVs, and renewable energy, and nations develop, copper will continue to be a cornerstone of modern technology, its demand will only rise alongside advancements in technology. From powering cities to enabling the clean energy transition, its role remains indispensable. Ensuring a stable and sustainable supply will be crucial in meeting future economic and industrial needs, making copper one of the most vital commodities in the global economy.

Canada’s Role With Supplying Copper

To meet the world's demand for copper, hundreds of copper mining companies around the world work every day extracting copper from mines. Currently, there are more than 700 copper mines in the world⁶. 

Canada ranked 12th, contributing 2.2% of global mined co. As of February 4th, 2025, the government of Canada plans to fast-track mining projects, more specifically in the British-Columbia region, which is where companies like Kodiak Copper Corp. are located^7.

Although there are currently hundreds of companies that mine for copper, we’ve identified six majors that are safe investments, and one junior mining company with the potential for considerable upside, some of which have operations in British-Columbia.

4 Major Copper Companies To Watch

Teck Resources (NYSE: TECK) is a Canadian-based mining company specializing in copper and zinc. One of the company’s main mines is the Highland Valley Copper mine located in British Columbia, Canada, close to Kodiak Copper’s (Ticker KFKCF on the OTCQB) MPD Project. Teck's involvement in Kodiak can be seen as a strong endorsement of the MPD project's potential. They already own over 8% of Kodiak Copper following its 2020 strategic investment.

Southern Copper (NYSE: SCCO) has large mining operations in South America. The company manages significant copper reserves and also the smelting, and refining of its ore, allowing the company to be fully integrated from mining to refining. 

Rio Tinto (NYSE: RIO) is the second largest mining company in the world with revenues of more than $54 billion and operates large copper mines located in the U.S. and Mongolia. Similar to Southern Copper, the company also operates refineries for various ores.

BHP Group (NYSE: BHP), one of the world's largest mining companies, is widely regarded as a safe investment due to its diversified asset base, strong balance sheet, and consistent dividend payouts. While traditionally known for its operations in iron ore, copper, and coal, BHP has been expanding its presence in Canada. The company’s key focus in the region is the Jansen Potash Project, a world-class asset set to become one of the largest and most sustainable potash mines globally. Additionally, BHP has been increasing its exposure to copper in British Columbia, aligning with the growing demand for critical minerals like copper in the global energy transition. In late 2022, BHP invested C$13.6 million to acquire a 19.9% stake in Brixton Metals Corporation. This investment supports the advancement of Brixton's Thorn project in Northern British Columbia. (SOURCE: miningnewsnorth.com)

Additionally, BHP has shown interest in the North Island Project, owned by Northisle Copper and Gold Inc. This project is located adjacent to BHP's former Island Copper Mine on Vancouver Island. (SOURCE: northisle.ca)

These strategic moves align with BHP's focus on expanding its copper portfolio, especially in regions like British Columbia that offer promising geological prospects and a favorable mining environment.

While the largest mining companies are known as safe investments due to the demand for natural resources, countless smaller copper mining companies go unnoticed. 

These smaller mining companies aren't just strong investment opportunities comparable to industry giants like BHP  or Southern Copper, they can offer even greater potential.

Our Top Pick: An Undervalued Company With Potential Big Upside

While many investors are chasing overvalued giants, Kodiak Copper remains one of the most underrated copper exploration companies on the market.

$KFKCF has been up 11% year-to-date, and we’ll be outlining why we believe it should be on your watchlist.

Below is Stock Scan's price target for $KDKCF. 

Six Reasons Why It’s The Right Time To Watch Kodiak Copper Corp.

1. Founder’s Track Record of Success – Chris Taylor has previously made shareholders VERY wealthy. Could history repeat itself?
2. Work to date has outlined multiple substantial mineralized zones across the property, including the large, high-grade Gate Zone and higher-grade mineralization from surface at the West and Adit Zones. With multiple  target areas yet to be tested,  – there is a lot more potential to be unlocked at MPD.
3. Mine-friendly jurisdiction: British Columbia is a mining-friendly jurisdiction with good infrastructure, facilitating future development. B.C. has just recently (January 2025) welcomed their newest gold mining operation, Artemis Gold Inc.’s Blackwater Mine.
4. AI-Powered Exploration – Kodiak is leveraging cutting-edge AI technology to enhance targeting and reduce exploration costs, giving them a major competitive edge.
5. Big News Incoming – A NI 43-101 compliant resource estimate is due in Q1 2025, which could be a major catalyst for share price growth
6. Discovery Potential - Kodiak’s MPD Property hosts multiple exploration targets with the potential for porphyry Cu-Au potential. Their maiden drill program on the “Adit Zone” returned a near-surface discovery intercept of 156 m @ 0.69% Cu, within a wider zone of 357 m @ 0.43% Cu. 

President Claudia Tornquist states: “...Kodiak's new results have outlined another sizable near-surface, high-grade area of mineralization, marking an important advancement for MPD. In addition to the Gate and West zones, Adit has developed into a third important high-grade zone and remains open in multiple directions.”

About Kodiak

Kodiak Copper is a Canadian exploration company that is dedicated to discovering and developing copper resources. They operate primarily in Canada and the United States, focusing on regions with established mining infrastructure and favorable regulatory environments.

Their flagship exploration property, the 100%-owned MPD copper-gold porphyry project, is located in the prolific Quesnel Terrane of south-central British Columbia, Canada. The area is renowned for its rich mining history and excellent infrastructure and already has several operational and profitable mines. The MPD project encompasses a substantial land package (338-square-kilometre) and exhibits characteristics indicative of a major, multi-centred porphyry system with the potential to evolve into a world-class mining operation.

Impressive Drilling Results

In 2020 Kodiak’s drill hole MPD-004 intersected 535 m of 0.49% Cu and 0.29 g/t Au, including 282 m of 0.70% Cu and 0.49 g/t Au on the Gate Zone on the MPD property. Since 2019 Kodiak has completed 85,000 metres of drilling and confirmed 7 substantial zones of copper-gold mineralization: Gate/Prime, Man, Ketchan, Dillard, West, Adit & South/Mid (43-101 Resource Estimate Pending). To date, 20 additional target areas have been identified on the property, with significant potential for more discovery.

Close To Existing Mines & Mining Communities

The MPD project is only 25 kilometres north of the operating Copper Mountain copper mine, a long-life, open-pit operation, owned by Hudbay Minerals Inc. (75%) and Mitsubishi Materials Corp., (25%). This 45,000 tonne-day operation with grades of 0.25% Cu (copper)  per tonne, and 0.07g/tonne Au (gold). This is the principal economic driver for the nearby town of Princeton, with exploration and mining an important driver for the community. 

This advantageous logistical setting not only facilitates efficient exploration and development activities but also contributes to reduced operational costs. Additionally, the region's established mining-friendly policies and supportive local communities further enhance the project's potential for successful advancement.

Exciting News Ahead

In January 2025, the company initiated a National Instrument 43-101 compliant resource estimation for the MPD project, encompassing seven main zones: Gate/Prime, Man, Dillard, Ketchan, West, Adit, and South/Mid. Initial results from this resource estimation are anticipated in the first half of 2025, marking a significant milestone in demonstrating the project's scale and potential.

Despite Kodiak Copper not being as recognized as the multinational mining companies, the company might be on the verge of a breakthrough in copper exploration.

Its flagship MPD project shows significant potential for large-scale resource development in an already established mining area with existing infrastructure. Kodiak Copper is backed by a strong management team with decades of mining experience, strategic partnerships, and a commitment to responsible mining. With the upcoming NI 43-101 resource estimate, continued exploration success, and rising demand for copper, Kodiak presents an excellent opportunity for investors looking to capitalize on the future of copper.