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Copper cupboard remains bare as discoveries dwindle S&P study Copper cathodes (Stock Image) The copper industry’s continued investment in mostly brownfields exploration opportunities, combined with generally longer timeframes from discovery hole to reserve statement contribute to the continued low rates of major discoveries that can move market fundamentals, an analysis by S&P Global Market Intelligence found. An analysis of significant copper discoveries between 1990 and 2020 shows that of the 229 deposits discovered in the period, only three were found in the past three years. Sign Up for the Copper Digest Sign Up While Latin America was the top location for discoveries over the past ten years, the 26.3 Mt of copper found is significantly lower than any other decade since 1990. While this is up from only one identified for the period in S&P’s 2020 analysis, the 4.6 million tonnes in the three deposits are well below the total discovered in most yea ....