Cerro Verde moly plant reopens

The updated statement sets out what companies will do if agreement cannot be reached and States have granted permission for projects to proceed.

Overcapacity and a "slow-moving property crisis" will see China continue to export its cheap copper, dragging down prices elsewhere.

The mine is part of BHP's Minerals Americas business that also includes Spence.

The after-tax $1.5 billion NPV increases to over $2 billion, in contrast with a February pre-feasibility study.