COMPANY

Company Story

Interra Copper isn’t new to the world of copper exploration. British Columbia has a long history of discovery and development of this increasingly valuable asset, and our team has expertise, ability and homegrown advantage throughout the region. As a junior exploration and development company we know the value of moving a mineral project ahead, and as the electrification of the automobile sector transforms the marketplace, so does the growing need for this critically important mineral.  We’re always focused on creating shareholder value and we invite you to look us over.  Our team is top notch, our asset is potentially world-class, and the headwinds in the market are blowing stronger than ever. Now is the time to dig in, with Interra.

David McMillan

Director, President, Interim CEO

Mr. McMillan has been involved in the mining and financial markets for over 40 years. As a stock broker and Senior Partner in a private investment firm in the 1980s and 1990s, Dave travelled to and financed many exploration projects around the world, including the original junior exploration companies that discovered the Kemess and Mount Milligan open pit, copper/gold mines in British Columbia which are located in the same geological trend as Interra’s Thane property. Since 2001, Dave has held numerous Director and Executive roles in private and public companies.

Christopher O. Naas

P.Geo., Director, Chief Operating Officer

Mr. Naas has over 34 years’ experience in the mineral exploration field in Canada, USA, South America and Africa and brings extensive experience in the supervision of mineral exploration programs in that have successfully developed mineral resources from grassroot prospects.

Oliver Foeste

Chief Financial Officer

Mr. Foeste is the founder and Managing Partner of Invictus Accounting Group and brings over 10 years of financial reporting and executive experience across numerous industries including junior exploration and mining companies. Previously, Oliver has held senior management and executive positions in multinational and small capitalization companies listed in Canada and the United States.

Janet Francis

Corporate Secretary

Janet has over 15 years; experience in the field of regulatory compliance and corporate governance. She has served as a director or officer of a number of public companies listed on the Toronto Stock Exchange, TSX Venture Exchange, and Canadian Securities Exchange in the technology, education, and mining sectors. She is principal of a corporate secretarial firm providing services to publicly-listed and other reporting issuers and to companies seeking to go public.

T. Gregory Hawkins

P.Geo., Chairman to the Board of Directors

Mr. Hawkins has been involved in the mining exploration and investment industry since 1969. He has been variously responsible for the identification and/or delineation of 10 mineral deposits in Canada, USA, Chile, Ghana, Mali and Zäire (DRC) with 7 deposits taken to production.

David McMillan

Director, President, Interim CEO

Mr. McMillan has been involved in the mining and financial markets for over 40 years and has, since his retirement from the securities industry in 2000, held numerous director and executive roles in public and private companies.

Christopher O. Naas

P.Geo., Director, Chief Operating Officer

Mr. Naas has over 34 years’ experience in the mineral exploration field in Canada, USA, South America and Africa and brings extensive experience in the supervision of mineral exploration programs in that have successfully developed mineral resources from grassroot prospects.

Samir Patel

Independent Director, Chair of Governance Committee

Mr. Patel is a securities lawyer with over 11 years of experience in securities and corporate law, particularly in relation to M&A transactions, continuous disclosure requirements, corporate governance and equity financings. He is currently General Counsel & Corporate Secretary at First Mining Gold Corp., a gold exploration and development mining company listed on the Toronto Stock Exchange, and has been with First Mining Gold since June 2016. Prior to that, Mr Patel has a Bachelor of Laws (Honours) degree from the University Nottingham in the United Kingdom.

Jason Nickel

Independent Director, Audit and Corporate Governance Committees

Mr. Nickel is an experienced mining engineer, investor and entrepreneur with a diverse 25-year mining background in operations, engineering, feasibility and exploration / development of venture capital projects. Most recently he held position as Mine Manager for a significant Canadian emerging producer, leading the production and development of new underground and pit operations. He has provided management and consulting services to the industry since 2008. Since 2011, Jason has served on 3 previous TSX-V / CDNX board of directors’ and has been heavily involved with several other junior resource public companies and mining project start-ups. He holds a degree in Mine Engineering from UBC and a GDBA in Business Administration from SFU Segal School of Business. Previously his experience includes several roles from Mine Planner, Sr. Mine Engineer, Mine Foreman, to Chief Engineer, Mine Manager and Vice-President.

David McAdam

B. Com., Independent Director, Audit and Corporate Governance Committees

Mr. McAdam has over 30 years of finance and operations experience in large and small capitalization companies, where has been the financial lead in raising over $250 million in equity and securing over $100 million in debt. Mr. McAdam has been the financial and/or operational lead in over 90 acquisitions, including the integration of the target companies. Mr. McAdam has been the Chief Financial Officer of several public and private companies including a number of public and private BC-based mining companies (one a Vancouver based TSX company with producing assets in South Africa and public reporting across the TSX-AIM-JSE exchanges). Other sectors include for-profit provider of English as a Second Language training to foreign students (Executive advisory and Investor Relations), a Fortune 150 waste management/recycling company (VP Ops and Director of Finance). These roles required reporting to public company Audit, Safety and Risk Committees along with full Board presentations in a Fortune 150 Company. Most recently David has been providing executive advisory consulting services to small and medium sized start-up enterprises leveraging his extensive experience in financial/operational integration/optimization and measurement, financial planning and analysis (including annual budgets and rolling forecasts), mergers and acquisitions (buy and sell side), due diligence, investor relations (TSX.V and JSE), systems strategy, implementation oversight and management, risk management and regulatory compliance.

COPPER INDUSTRY

Copper is an integral part of sustainable energy initiatives because of its reliability, efficiency and performance. Its superior electrical and thermal conductivities increase the energy efficiency of countless energy-driven systems that rely on electric motors and transformers. The same physical properties are vital in the collection, storage and distribution of energy from solar, wind and other renewable sources.

A GLOBAL SHORTFALL

Within a decade, the world may face a massive shortfall of what’s arguably the most critical metal for global economies: copper.

Used in everything from wiring and pipes to batteries and motors, copper is both an economic bellwether and a key ingredient in the push toward renewable power and electric vehicles. If producers fail to address the deficit, prices will keep rising and present a challenge to world leaders counting on a worldwide energy transition to fight climate change.

The copper industry needs to spend upwards of $100 billion to close what could be an annual supply deficit of 4.7 million metric tons by 2030 as the clean power and transport sectors take off, according to estimates from CRU Group. The potential shortfall could reach 10 million tons if no mines get built, according to commodities trader Trafigura Group.

Copper’s Large Role in Growing Electric Vehicle Production

Electric vehicles use more than double the copper of an internal combustion engine automobile, and the metal is also used heavily in EV infrastructure

The acceleration towards lowering carbon output through alternative energy sources has become a top priority around the world, particularly in the transportation sector.

With forecasts of increased electric vehicle (EV) adoption,  all eyes are on the battery metals of Cobalt, Lithium and Nickel. However, the role to be played by copper in this push for a green recovery should not be underestimated.  Not only is copper used within vehicle production but is also intrinsic in the various elements of EV infrastructure.

As vehicles rely more on electric as a key power source, an increasing amount of copper will be required to deliver on this promising technology.

Graphic Source: Copper.org

Within a decade, most urban transport will be electric

There is about five times more copper in an EV than in an ICE vehicle. This means that, if we are producing 30 million EVs in 2030, an additional two million tonnes of copper per annum will be required by that point. Copper will also be required for new charging ports and infrastructure, increasing overall demand by 12% to 15%.

Demand for copper will soar:

5x
copper in an EV compared with an ICE vehicle.

This increase in demand, combined with rising production costs and deteriorating ore grades, is likely to push copper prices higher and result in a search for alternatives. Currently, there is no direct substitute for copper, although researchers are experimenting with swapping in aluminium for some applications to reduce the overall cost. While ongoing innovation in battery technology is likely to have some impact on copper demand, overall copper demand from the broader mobility sector is expected to at least double over the next decade.

Substantially Increased Demand From EV Charging Stations

While it is a known fact that electric vehicles (EVs) use about four times more copper than gasoline-powered vehicles, short-term demand for the metal won’t come from the car industry, but from the charging stations and related infrastructure needed to support EV growth, a new study shows.

According to Scottish consultancy Wood Mackenzie, there will be more than 20 million EV charging points by 2030, consuming over 250% more copper than in 2019. But the forecast would only become a reality if more private and public investment is allocated.

The EV charging infrastructure ecosystem is very complex, and most projects require strong partnerships between both public and private stakeholders to deploy the necessary infrastructure, the research notes.

Courtesy of Wood Mackenzie

Not only electric utilities, but equipment makers, software and network providers, as well as governments and non-governmental organizations will need to join efforts, the report reads.

In North America alone, the EV infrastructure market will total $2.7 billion by 2021 and $18.6 billion by 2030, according to the report.

“By 2040, we predict that passenger EVs will consume more than 3.7 million tonnes of copper every year. In comparison, passenger internal combustion engine (ICE) vehicles will need just over 1Mt,” says Henry Salisbury, WoodMac research analyst. “If we look at cumulative demand, between now and 2040 passenger EVs will consume 35.4Mt of copper – around 5 Mt more than is required to meet current passenger ICE demand.”

Copper: Essential to Sustainable Energy

Copper is an integral part of sustainable energy initiatives because of its reliability, efficiency and performance. Its superior electrical and thermal conductivities increase the energy efficiency of countless energy-driven systems that rely on electric motors and transformers. The same physical properties are vital in the collection, storage and distribution of energy from solar, wind and other renewable sources.

Copper plays a vital role in sustainable electric energy, increasing the efficiency and reliability of wind and solar installations and their related power transmission systems. Copper can be easily and effectively recycled over and over again without degradation of its properties.

(Source: “Copper: Essential to Sustainable Energy”, published by the Copper Development Association Inc.)

COPPER USES

ELECTRIC VEHICLES

Copper is used throughout both the construction of electric vehicles and the charging stations and supporting infrastructure because of the metal’s durability, high conductivity and efficiency.

While conventional cars have 18-49 pounds of copper, hybrid electric vehicles (HEV) contain approximately 85 pounds, plug-in hybrid electric vehicles (PHEV) use 132 pounds, battery electric vehicles (BEVs) contain 183 pounds, a hybrid electric bus contains 196 pounds, and a battery electric bus contains 814 pounds, most of which is used in the battery.

ELECTRIC MOTORS

In addition to EVs, electric motors are found in every area of industry and commerce where they power fans, pumps, compressors and exhausts as well as manufacturing and assembly equipment.

Advances in technology have created more efficient designs which means that energy efficiency can be greatly improved by replacing older, worn-out motors with energy-efficient equivalents and by specifying energy-efficient motors in new equipment. Such practices not only lower energy costs, but also improve equipment reliability.

WIND POWER

Wind power may not be the first thing that comes to mind as a market for copper, but the turbine blades drive powerful generators which are similar in structure to electric motors and use a similar amount of copper in their construction. 

Wind Power By The Numbers

25 percent: compounded annual growth rate of the onshore wind energy program in the U.S. It has surpassed $60 billion in size.

20 percent: the U.S. wind power capacity ratio compared to the world’s total installed wind power, according to the American Wind Energy Association.

20 percent: U.S. Energy Department’s goal for Renewable Energy growth of “20 percent by 2030,” which offers opportunities for onshore wind energy but more particularly for offshore wind energy.

SOLAR POWER

Another high-demand renewable energy product is solar energy which, copper forms part of the materials presently used for photovoltaic solar cells, in the technology’s cabling, earthing, inverter, transformers and photovoltaic cell ribbons.

Solar Photovoltaic By The Numbers

60-70 percent: compounded annual growth rate of residential and commercial sectors. Utility scale photovoltaic (PV) installations have quadrupled since 2008.

5: top states using PV are California, New Jersey, Florida, Arizona and New York*

601,133: number of U.S. Shipments of Photovoltaic Cells and Modules in 2009

* Source: U.S. Energy Information Administration

RENEWABLES AND GRID

Across the world, photovoltaic panels and high-megawatt wind farms are being built to generate clean, efficient power to keep up with the rising demand for clean, renewable energy. These alternative energy sources (sun and wind) are free and the equipment used to harvest the energy does not continuously generate carbon or other emissions. Such alternative energy plants are clean and reliable.

In order to distribute this energy, there is a need for high capacity transformers and cabling; either above ground, below ground, or even underwater and copper’s unique chemical properties make it by far the most efficient and cost-effective long-term option.

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