History of Copperstone Resources
Copperstone Resources is a base and precious metal exploration company founded in 2006 and listed on Nasdaq First North Growth Market, Stockholm. The company has a long history in mineral exploration. Copperstone Resources’ strategy is to systematically and innovatively explore mineral resources using its extensive geological database. Since March 2019, Viscaria is also a wholly owned subsidiary of Copperstone. Through the acquisition of Viscaria, Copperstone’s assets increased significantly and the company strategy was revised. The goal is now to become a modern and responsible producing mining company through the reopening of the Viscaria mine.
History of Viscaria
Viscaria is a large project with copper as main metal and iron as complement. Viscaria has, according to the JORC/PERC-standard, 59 Mton with 1,2% Cu or 727 000 ton copper in different classifications as well as 13 Mton of magnetite of 66% grade as potential by product, read more here. Viscaria copper deposit, consisting of exploitation concessions for the A-zone and a smaller part of the B-zone and a new ore resource (the D-zone) has been defined during the initial mine planning. In addition, Copperstone has exploration licences along the geological trend 17 kilometers north. The A-zone and a smaller part of the B-zone were mined as open-pit and underground by LKAB and Outokumpu between 1983 to 1997. A total of 12,5 million ton copper ore with a 2,3 percent copper grade has been mined. Viscaria closed mainly due to the weak copper price which was below 1,700 USD/ton, comparing to today’s price which is 5-6 times higher.
History of Copper
The mining industry in Sweden has a history of more than 6,000 years . Historically, Sweden’s most famous mine is the Falun copper mine in Dalarna. The mine itself had a significant contribution to the Swedish economy, income from the Falun mine funded almost all of Sweden’s wars throughout its history. The Falun Copper Mine is the source of the pigment falu red that painted castles, churches and cottages still seen throughout Sweden.
Sweden today is one of the largest sources of iron ore in Europe, mostly from Kiruna Mines. In 2019, Sweden was one of the most active major mining countries in Europe. Swedish ore production increased in 2019 to 86.5 million tonnes, the highest ever. Currently 92 percent of the EU’s iron ore production comes from Sweden. Sweden also has the EU’s largest lead and zinc production and the second largest silver production, and among the highest gold and copper production, the statistics also show. Most of Sweden’s landmass is geologically part of the Baltic Shield, which also covers Fennoscandia and northwest parts of Russia. The Baltic Shield has the oldest rock in Europe, and is one of the largest and most active mining areas on the European continent. Most Swedish mines are in the Baltic Shield. The shield, because of its resemblance to the Canadian Shield and cratons in South Africa, is also a source of gold and diamonds.