History of Copperstone Resources

Copperstone Resources is a base and precious metal exploration company founded in 2006 and listed on Nasdaq First North 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

The acquisition of Viscaria was completed on March 8, 2019. Viscaria is a large and promising project with copper as the main metal. According to the JORC code, Viscaria has 52 Mtons with 1.2% Cu, or 609,000 tons of copper of different classes, read more here. Viscaria copper deposit, consisting of the A-zone and a smaller part of the B-zone. A new ore body (D zone) has been defined in accordance with the Scoping Study. The A- and B-zone was mined as open pit and underground by LKAB and Outokumpu between the years 1983 and 1997. Approximately 12.5 million tonnes of copper ore at 2.3% Cu have been mined during that period. Viscaria was closed mainly due to a low copper price which at the time of closing in 1997 was below 1,700 USD / ton, which can be compared with current levels that are 3-4 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.