Jetti Resources: Unlocking copper from mine waste

Seventy percent of the world’s remaining copper resources are trapped in low-grade primary sulfide deposits. Being able to release that copper at a low cost, and with minimal capital expenditures is a big deal for the mining industry, says Mike Outwin, co-founder and CEO of privately held Jetti Resources.

In February Outwin spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida.

Jetti has developed a technology that addresses the challenge of how to extract copper from “stranded” primary sulfide deposits. The natural leaching process works fine for oxide ores and secondary sulfide ores, but hasn’t worked on deeper primary sulfide ores due to an inhibitory layer that forms on the surface of the mineral.

“You can think of it as a force field that blocks the copper from leaving the mineral in any large amount, maybe 10-20 percent is the maximum extraction that you can get from it normally,” Outwin explained. “Our big innovation was creating this catalyst that removes that force field if it’s already there… or for fresh ores make sure it doesn’t form at all. And so the technology you can think of it as a key; it unlocks the door of this ore to allow the copper to exit.”

Jetti Resources has received $200 million from some big names in the mining industry including Teck Resources, BHP and Mitsubishi. Automaker BMW recently took a stake in the company.

The leaching technology has been deployed to mines operated by Capstone Copper (TSX:CS), US copper giant Freeport-McMoRan, and at the El Abra copper mine in Chile.

“The reasons why we’ve got traction is it’s a very low-capex technology, integrates seamlessly with existing operations, we’re able to leverage their already existing leach systems to unlock copper,” said Outwin, adding:

“At some mines you can produce a mine’s worth of copper at an already existing asset, meaning you don’t have to develop a new pit necessarily, so it’s a very exciting proposition for many companies.”

He said the dollar value of leachable primary copper sulphide ores is estimated in the trillions.

Another benefit of the technology is its eco-friendliness.

“You’re once again adding additional copper pounds to a site that has already been paid for from an emissions and water usage profile,” said Outwin.