Silvercorp Metals Expands into Copper Market with Ecuador Project Targeting 2026 Production

Silvercorp Metals Inc. is strategically expanding into the copper market with its El Domo copper-gold project in Ecuador, targeting production by late 2026. This diversification initiative comes during a period of unprecedented global copper demand, driven primarily by the rapid expansion of electric vehicles, renewable energy infrastructure, and construction sectors. The timing appears particularly advantageous following recent market developments that saw copper prices surge 17% last week after former U.S. President Donald Trump announced potential 50% tariffs on the industrial metal.

The global copper market, currently valued at $176.88 billion in 2024, is projected to reach $253.82 billion by 2029, representing a compound annual growth rate of 7.4%. This substantial growth trajectory is largely attributed to increasing electric vehicle adoption and the worldwide transition toward renewable energy sources. Silvercorp's entry into copper production addresses the critical need for new supply sources as traditional copper-producing regions like Chile and Peru face ongoing supply risks and production challenges.

Supported by strong cash flow generated from its established silver operations in China, Silvercorp demonstrates financial capacity to pursue this strategic diversification. The El Domo project represents more than just portfolio expansion—it signifies the company's commitment to supplying copper, an essential component in the global transition toward sustainable energy and greener economic systems. This move positions Silvercorp to benefit from both current market conditions and long-term structural demand growth for copper across multiple industrial and technological applications.