BMW invests in copper extraction startup Jetti Resources
German automotive giant BMW Group has invested in US start-up Jetti Resources, which has developed a pioneering process for copper extraction that uses previously unused ore from existing copper mines.
BMW invested in the Colorado-based company through its venture capital fund, BMW i Ventures, it said in a statement on Thursday, without disclosing the size of its investment.
“By investing in Jetti, we are supporting technological progress in the field of copper extraction, with a focus on responsible and resource-conserving methods,” said head of Indirect Goods and Services, Raw Materials, Production Partners of BMW, Wolfgang Obermaier.
“This new process has the potential to improve the environmental footprint and integrity of our supply chain, even with growing demand for resources like copper,” he added.
Copper is a vital raw material to produce electric drivetrains in electric vehicles (EVs). As early as 2030, at least half of BMW’s global sales will consist of fully EVs.
Jetti has developed a catalytic leaching technology that enables the extraction of copper from previously unexploited ores. It is estimated that about 70% of the world's copper resources are bound up in primary sulphide ores. Material, previously stored in dumps and considered waste, can now be tapped into with this new form of resource-conserving extraction.
This process enables the recovery of previously trapped copper resources, thus significantly increasing the output and lifespan of existing copper production facilities.
Jetti states that its method allows copper mines to use heap leaching on these ores, which causes about 40% fewer carbon-dioxide emissions compared with traditional raw material extraction and uses about 50% of the water.
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