Peru’s metal output falls across the board, silver down 22%

The mine, one of the world's top sources of copper, was shut down in November, hours after Panama's Supreme Court declared its contract unconstitutional.

This potential combination would create a global powerhouse in aluminum production, the companies said.

The stoppage could mean the release of copper raw materials to the market, which has faced unprecedented shortages this year.

The miner is actively looking for copper projects in Peru that can yield at least 50,000 tonnes of the red metal for 10 years or more.