Ann: More High-Grade Copper Discoveries at Storm, page-185

Maybe 2% is just not high enough taking into account the location , and other factors .
2% Cu is around the same as 2 gram a tonne gold , and gold has less offtake and transport issues , 2% is good but not great even in Australia for an open pit mine if there is relatively high strip .
Iron back Zinc had a zinc deposit in Greenland , by world standards it was a decent grade , but logistics impeded by sea ice etc ended up causing it to be moth balled from memory .
Agree with you the value currently should be based on what is open pittable .